All posts by hlancey@bloomberg.net

UAN

Eastern Cornbelt, Market Watch, South Central, Southeast, Southern Plains, U.S. Gulf, UAN, Western Cornbelt

US Gulf:

NOLA UAN pricing remained at last week’s $255-$265/st ($7.97-$8.28/unit) FOB range, with no new business reported during the week.

Eastern Cornbelt:

UAN-32 terminal prices were unchanged at $295-$310/st ($9.22-$9.69/unit) FOB in the Eastern Cornbelt for December tons, with reports of 1Q and 2Q offers in the $310-$330/st ($9.69-$10.31/unit) FOB range.

UAN-28 pricing FOB Cincinnati remained at $260-$270/st ($9.29-$9.64/unit) for 4Q tons, $263-$272/st ($9.39-$9.71/unit) for 1Q, and $275-$280/st ($9.82-$10.00/unit) for 2Q prepay offers.

Western Cornbelt:

UAN-32 prices for December-January tons remained at $295-$310/st ($9.22-$9.69/unit) FOB regional terminals in the Western Cornbelt, depending on location, with the low confirmed at St. Louis. Rail-DEL pricing to Nebraska was quoted at $305-$318/st ($9.53-$9.94/unit).

Southern Plains:

The UAN-32 market widened in the Southern Plains, from a low of $260/st ($8.13/unit) FOB terminals on the Texas Gulf Coast to a high of $305/st ($9.53/unit) FOB Dodge City, Kan., for January-February offers. Other spot quotes for October-January tons included $275/st ($8.59/unit) FOB Verdigris and $280/st ($8.75/unit) FOB Woodward and Coffeyville, Kan.

South Central:

The UAN-32 market was reported at $275-$290/st ($8.59-$9.06/unit) FOB South Central terminals, with the low in Louisiana and the high reported in Kentucky for December shipments.

Southeast:

The UAN-32 market remained at $260-$270/st ($8.13-$8.44/unit) FOB port terminals in the Southeast, depending on location.

Ammonium Nitrate

Ammonium Nitrate, Brazil, Market Watch, Poland, South Central, Southern Plains, Western Cornbelt

Western Cornbelt:

The ammonium nitrate market was quoted at $330-$360/st FOB in the Western Cornbelt, with the low reported at Caruthersville, Mo.

Southern Plains:

Ammonium nitrate prices remained at $330-$360/st FOB in the Southern Plains, with the low confirmed at Muskogee, Okla.

South Central:

The ammonium nitrate market slipped to $280/st FOB Yazoo City, Miss., down from the prior $320/st FOB level, with upriver terminals quoted at the $350/st FOB level in the South Central region.

Brazil:

Brazil ammonium nitrate imports firmed 42% in January-September, according to Trade Data Monitor, to 760,000 mt from the year-ago 535,000 mt. September imports of 126,000 mt – all sourced from Russia – fell below the 147,000 mt received in September 2022.

Poland:

Grupa Azoty said it produced an estimated 227,000 mt of nitrogen fertilizers, including ammonium nitrate, in September, down from 251,000 mt produced in August.

The group attributed the decline primarily to the emergency shutdown of its Zakłady Azotowe Kędzierzyn S.A. subsidiary on Sept. 5, after the ammonia unit suffered an overheating incident in its boiler system (GM Sept. 8, p. 25). Nitric acid and fertilizer production resumed “at minimum plant loads” in the last week of September.

Ammonium Sulfate

Ammonium Sulfate, Brazil, China, Eastern Cornbelt, Market Watch, South Central, Southeast, Southern Plains, U.S. Gulf, Western Cornbelt

US Gulf:

Although no new business was confirmed during the week, sources quoted the NOLA ammonium sulfate barge market at $270-$275/st FOB for new business based on current warehouse sales. AdvanSix raised its NOLA posted price on Oct. 13 to $295/st FOB, matching the Sept. 19 NOLA posting from Interoceanic.

Eastern Cornbelt:

The granular ammonium sulfate market remained at $285-$335/st FOB in the Eastern Cornbelt, depending on location, with low confirmed out of spot Mississippi River terminals. The Cincinnati market was pegged in the $320-$335/st FOB range for producer tons at mid-month. Midwest postings from AdvanSix on Oct. 13 firmed to $325/st FOB river warehouses.

Western Cornbelt:

The granular ammonium sulfate market was pegged at $295-$310/st FOB in the Western Cornbelt, with the low at St. Louis. AdvanSix raised its postings on Oct. 13 to $325/st FOB river warehouses in the Midwest.

Southern Plains:

Granular ammonium sulfate jumped to $300-$325/st FOB for the last confirmed business in the Southern Plains, up from the prior $290-$295/st FOB range, with both the high and low reported at Houston. The Catoosa/Inola market was quoted at the $305/st FOB level at mid-month.

South Central:

The ammonium sulfate market was pegged in a broad range at $230-$320/st FOB in the South Central region, with the low confirmed in southern Mississippi and the high in Arkansas.

Southeast:

AdvanSix on Oct. 11 announced higher pricing for ammonium sulfate. Effective Oct. 13, postings FOB Hopewell, Va., strengthened to $320/st for granular, $290/st for mid-grade, and $270/st for standard, up $15/st from the previous list prices.

Rail-DEL pricing was pegged at the $340/st level in Florida for granular tons, while standard grade remained in the $230-$260/st range FOB Florida warehouses.

China:

No changes were reported in the spot price for caprolactam grade amsul, leaving the market in the low-$170s/mt FOB. Sources noted increased pressure to return the price to the $160s/mt FOB, however.

Brazil:

Ammonium sulfate imports were stable at $215-$220/mt CFR, with limited transactions reported.

While imported ammonium sulfate references held firm, the Rondonopolis range expanded to $320-$345/mt FOB ex-warehouse from the week-ago $330/mt FOB. Following the softer urea trend, some sellers reduced prices, while changes to amsul export regulations in China caused others to predict a dip in local supply, triggering firmer offers.

Brazil ammonium sulfate imports stood at 2.8 million mt in January-September, Trade Data Monitor reported, a 9% decrease from the 3.1 million mt recorded one year earlier. China supplied 2.6 million mt.

Third-quarter imports were 1.3 million mt, up 18% from the 1.1 million mt received in July-September 2022, while September imports ticked up to 546,000 mt from the year-ago 543,000 mt.

DAP/MAP

Brazil, Central Florida, China, DAP/MAP, Eastern Cornbelt, India, Market Watch, South Central, Southern Plains, U.S. Exports, U.S. Gulf, Western Cornbelt

Central Florida:

Central Florida DAP trucks increased to $530-$550/st FOB for the week, up from last week’s $540/st FOB. Truck-loaded MAP maintained its $100/st premium to DAP, stretching to $630-$650/st from the prior $640/st FOB. White Springs MAP prices were unmoved at $625/st FOB.

US Gulf:

Prompt and loaded NOLA phosphate barges traded at a premium to November loadings, sources said. DAP barges lifted $5/st, to $525-$550/st FOB from the week-ago $520-$545/st FOB, while upriver barges changed hands up to $555/st FOB. Sources quoted MAP barges in the $600-$650/st FOB range, off from $615-$650/st FOB at last report.

US Exports:

With nothing new reported on the US Gulf DAP and MAP export markets, pricing remained at the week-ago $570/mt FOB.

Eastern Cornbelt:

DAP firmed to $590-$625/st FOB in the Eastern Cornbelt, up $15/st at the high end of the range. MAP pricing jumped to $700-$725/st FOB in the region, up from last week’s $690-$710/st FOB. Both the high and low ends of each range were reported in the Cincinnati market during the week.

“We have just begun to move product out of the warehouse,” commented one southern Indiana source. “It’s by no means a hard push, but more like a steady flow.”

Western Cornbelt:

DAP pricing was quoted firmly in the $590-$610/st FOB range in the Western Cornbelt, with MAP reported at $700-$720/st FOB, depending on location.

Southern Plains:

DAP prices jumped to $610-$620/st FOB Catoosa/Inola and Houston, up from the prior $590-$600/st FOB range. The MAP market climbed to $710-$720/st FOB at those locations, up from the previous $690-$700/st FOB level.

South Central:

DAP prices in the South Central region firmed to $590-$610/st FOB, up from the prior $585-$590/st FOB range.

Southeast:

MAP postings from Nutrien remained at $625/st FOB Aurora, N.C., and White Springs, Fla., in mid-October.

China:

Producers continue to push for higher DAP prices but are facing strong resistance from Indian buyers. The current price of $570-$575/mt FOB is likely the ceiling, sources said, noting that prices are expected to come down soon.

Softer prices are anticipated if the Chinese government authorizes the export of 1 million mt of DAP during the last quarter of the year. So far, the market has reacted as if this permission has been granted. Traders and end users have already entered talks with major suppliers in China to set up shipments, sources said.

India: 

Demand for DAP remains strong, but the current high price and limited subsidy payments are preventing large-scale sales, players said. The current price of $595/mt CFR, achieved a few weeks ago, now seems to be on the decline.

Even as producers push for $600/mt CFR, buyers are sticking to firm bids at $520/mt CFR. Neither side is claiming a sale at those levels.

Brazil:

The landed price of MAP continued at $550/mt CFR. Players noted low availability and limited interest from buyers.

Rondonopolis MAP lifted to $650-$700/mt FOB, returning to levels seen in late September. Shipping delays have reportedly led to tight domestic supply, resulting in higher prices for the soybean application season.

MAP imports to Brazil totaled 3.8 million in January-September, Trade Data Monitor reported, a 14% increase from the 3.4 million mt received during the same period of 2022. Russia sent 1.8 million mt, followed by Morocco with 1 million mt. Saudi Arabia added 649,000 mt.

Third-quarter imports were pegged at 1.5 million mt, against 1.2 million mt received in July-September 2022. Imports totaled 473,000 mt in September, rising from 241,000 mt reported one year earlier. Russia sent 208,000 mt for the month, while Morocco shipped 166,000 mt.

TSP

Brazil, Eastern Cornbelt, Market Watch, South Central, Triple Superphosphate, U.S. Gulf, Western Cornbelt

US Gulf:

NOLA TSP barges were reported at $460-$480/st FOB, depending on quality, edging up from last week’s $460-$475/st FOB range.

Eastern Cornbelt:

TSP remained at the $535/st level FOB Cincinnati and Ottawa, Ill., for October offers, with reports of November prices jumping to $535-$550/st FOB Cincinnati.

Western Cornbelt:

TSP was steady at $500-$520/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high at Caruthersville.

South Central:

TSP pricing remained at $505-$525/st FOB terminals in the South Central region.

Brazil:

No transactions were reported in the import TSP market, leaving prices steady at $430-$440/mt CFR. Rondonopolis remained at $545/mt FOB ex-warehouse. There were few references available for the week, with many players currently out of the market.

SSP

Brazil, Market Watch, SSP

Brazil:

The SSP 19-21 import market widened to $190-$230/mt CFR, a shift from the week-ago $205-$220/mt CFR, with Egyptian tons setting the low end of the range. The SSP application season is finished until next September, leaving little near-term demand for the product. The Rondonopolis market held steady at $440/mt FOB ex-warehouse.

Phosphoric Acid

Eastern Cornbelt, Market Watch, Phosphoric Acid, Southern Plains, Western Cornbelt

Eastern Cornbelt:

Phos acid postings in the Eastern Cornbelt remained at $10.40/unit rail-DEL for October shipments.

Western Cornbelt:

The phos acid price for October was unchanged at $10.40/unit rail-DEL in the Western Cornbelt.

Southern Plains:

The phos acid market was pegged at the $10.40/unit rail-DEL level for October shipments in the Southern Plains, up $0.25/unit from September.

Ammonium Polyphosphate

Ammonium Polyphosphate, Eastern Cornbelt, Market Watch, Southern Plains, Western Cornbelt

Eastern Cornbelt:

10-34-0 pricing was steady at $490-$495/st FOB in the Eastern Cornbelt.

Western Cornbelt:

The 10-34-0 market remained at $475-$490/st FOB in the Western Cornbelt, with the low confirmed in Iowa.

Southern Plains:

Ammonium polyphosphate prices were higher in the Southern Plains, with 10-34-0 firming to $465-$500/st FOB and 11-37-0 to $525-$550/st FOB in the region, up from the prior $460/st FOB and $500/st FOB levels, respectively.

Muriate of Potash

Brazil, Canada, Eastern Cornbelt, Market Watch, Potash Muriate, South Central, Southeast, Southern Plains, U.S. Gulf, Western Cornbelt

US Gulf:

The NOLA potash market remained in the $345-$350/st FOB range for the latest trades, unchanged from last week. While reports circulated of possible new barge sales at the $355/st FOB level, no business was confirmed at that level.

Eastern Cornbelt:

Potash was unchanged at $385-$400/st FOB in the Eastern Cornbelt, with the high reported out of inland warehouses and the low at river terminals. The Cincinnati market edged up to $390-$395/st FOB in mid-October.

Western Cornbelt:

Potash was steady at $385-$400/st FOB in the Western Cornbelt, with the St. Louis market quoted in the $385-$395/st FOB range. Pricing at Caruthersville was pegged at the $390/st FOB level in mid-October.

Southern Plains:

Potash firmed to $390-$395/st FOB Catoosa/Inola and Houston for recent business, up from $380-$390/st FOB at last report. The latest postings from Intrepid FOB Carlsbad, N.M., included $445/st for 60% white granular and $453/st for 62% white standard.

South Central:

Potash was pegged at $380-$395/st FOB in the South Central region, with the low at Memphis and the high confirmed at Little Rock. Kentucky sources reported Ohio River warehouses in the $385-$390/st FOB range at mid-month.

Southeast:

Potash was unchanged at $360-$370/st FOB port terminals in the Southeast, with reports of rail-DEL Canadian tons holding at the $385-$390/st level.

Canada:

Canpotex reported on Oct. 12 that it is fully committed on shipments of potash through Dec. 31 due to increasing demand in key offshore markets. Canpotex markets about one-quarter of the global potash trade, according to Bloomberg.

“This demand is being supported by solid fundamentals for agricultural commodities in numerous growing regions,” the export organization said, adding that there also continues to be a strong focus on food security in many markets.

Brazil:

Potash imports slipped to $330-$350/mt CFR, down from last week’s $340-$350/mt CFR range. Sellers are offering formula-based pricing in an attempt to stimulate demand, and players reported large volumes of Belarusian origin available in the market.

Potash pricing at Rondonopolis followed imports lower to $475-$485/mt FOB ex-warehouse, off from last week’s $480-$485/mt range.

Potash imports softened 2.5% in January-September, Trade Data Monitor reported, to 9.9 million mt from 10 million mt noted through the first three quarters of 2022.

Third-quarter imports totaled 3.9 million mt, up 2% from 3.3 million mt in the prior year, while September imports of 1.2 million mt represented a 53% increase from the 758,000 mt recorded in September 2022.

Sulfur

ADNOC - Abu Dhabi, Alberta, Brazil, China, Market Watch, Qatar, Sulfur, Tampa, U.S. Gulf, Vancouver, West Coast

Tampa:

Fourth-quarter contract negotiations for molten sulfur delivered to Tampa settled within expectations at $102/lt CFR. The new contract represented an 85% increase from $55/lt CFR in the third quarter, while approaching the $103/lt CFR price for 2Q.

US Gulf:

US Gulf prices lifted to $100-$105/mt FOB from the week-ago $95-$105/mt FOB as the market reacted to the Tampa contract settlement.

Brazil:

Prices in Brazil were unchanged at $132-$140/mt CFR.

Vancouver:

Vancouver prills softened $5/mt on concerns from the China market, slipping to $95-$100/mt FOB from $100-$105/mt FOB at last report.

Alberta:

Alberta netbacks narrowed following the Tampa contract settlement and softening at Vancouver, moving to an estimated (-)$13-$30/mt FOB range from the week-ago (-)$60-$35/mt FOB. Molten sulfur cargoes contracted into the US market set the low end of the range, while solid tons sold through the Vancouver export market established the highs.

West Coast:

Solid sulfur prices on the West Coast aligned with Vancouver, pulling back to $95-$100/mt FOB. Molten sulfur contracts were reported settling at $85-$90/lt FOB for loading in the fourth quarter, an 84.2% increase from the prior $45-$50/lt FOB range.

China:

Import prices increased to $125-$130/mt CFR at China, rising from $120-$126/mt CFR at last report. Players questioned the market’s staying power, however, citing a build-up of port sulfur inventories and more competitive domestic prices.

ADNOC:

Prilled sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was noted at $111/mt FOB Ruwais for October loading.

Qatar:

The October price for Muntajat sulfur was steady at $104/mt FOB Ras Laffan, sources said.