U.S. Gulf/Tampa: It was still too early for Tampa March news last week. Sources cited three factors that may serve to firm up prices for March, or at least keep them from falling as much as in recent months. Those include increased curtailments in Trinidad, where sources say ammonia production is expected to move up to 20 percent curtailments for second-half February; an export of CF tonnage from NOLA, which was reportedly loading this week for OCP; and ammonia buying starting up in the Cornbelt.
March NYNEX natural gas closed Feb. 18 at $1.852/mmBtu, down from Feb. 11’s $1.994/mmBtu.
Eastern Cornbelt: Anhydrous ammonia pricing covered a broad range in the Eastern Cornbelt last week, with the low quoted at $410/st FOB Lima, Ohio, for spring tons. The market FOB Huntington, Ind., was pegged at $435/st FOB for prompt or spring prepay, while pricing out of spot Illinois terminals had reportedly firmed to $440/st FOB for both prompt and prepay.
Regional sources talked of “some resistance” at the upper end of the range, but said buyers were reportedly starting to come to the table for prepay sales at the $440/st FOB level last week.
Western Cornbelt: The ammonia market remained at $360-$415/st FOB in the Western Cornbelt, with the low reported out of Nebraska terminals and the upper end at locations in central/eastern Iowa and Missouri. Delivered tons remained at $360-$380/st in Missouri from southern production points. Sources reported that truck shipments of ammonia out of Woodward, Okla., were on allocation last week.
Northern Plains: The anhydrous ammonia market was pegged at $415-$430/st FOB regional terminals in the Northern Plains, down some $10-$20/st from last report, with the low in Minnesota.
North Dakota terminals were generally quoted in the $420-$430/st FOB range for prompt or prepay, with delivered tons pegged at $455-$465/st in the state. “We have seen a good amount of buying within the last five days in North Dakota for spring prepay,” said one regional contact.
Great Lakes: The anhydrous ammonia market was quoted at $440-$465/st FOB in the Great Lakes region, down $20/st from early January, with the low quoted by Wisconsin sources for prompt tons. Michigan contacts pegged the Courtright, Ont., ammonia market at $450/st FOB for prompt and $465/st FOB for prepay.