U.S. Gulf/Tampa: A new NOLA trade was reported at $420/st FOB. While some remain skeptical of anything above the $400/st FOB mark, sub-$400/st FOB trades have not been confirmed in recent weeks.
Ammonia imports were up 4 percent in September, according to the U.S. Department of Commerce, to 512,913 st from the year-ago 492,460 st. July-September imports were off 3 percent, to 1.48 million st from the year-ago 1.53 million st.
The December NYMEX natural gas price closed Nov. 5 at $2.364/mmBtu, up from the Oct. 29 close of $2.257/mmBtu.
Eastern Cornbelt: Several sources reported an uptick in ammonia movement in the Eastern Cornbelt last week, with demand picking up “at a brisk pace” for both fall prepay and new spot sales. The ammonia market was steady at $545-$555/st FOB in the region, with the low in Illinois and the upper end FOB Indiana terminals.
Western Cornbelt: Fall ammonia movement was slowly picking up steam in some parts of the Western Cornbelt, but the movement of dry tons remained very light, sources said. “It is slow and very quiet,” said one Missouri contact at midweek.
The anhydrous ammonia market was steady at $510-$540/st FOB in the Western Cornbelt, depending on location, with the low reported in Nebraska and western Iowa. Delivered tons remained at $540-$550/st from southern production points.
Southern Plains: Anhydrous ammonia was unchanged at $460-$490/st FOB in the Southern Plains, with the low out of regional production points and the upper end FOB Kansas pipeline terminals. Sources reported some application of ammonia – along with an N stabilizer – taking place in parts of the region last week.
South Central: The anhydrous ammonia market was steady at $530-$550/st FOB in the South Central region, with the low at Memphis, Tenn., and the upper end FOB Henderson, Ky.