All posts by hlancey@bloomberg.net

TSP

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

US Gulf:

NOLA TSP barges were steady at $460-$465/st FOB, sources said.

Eastern Cornbelt:

TSP remained at the $535/st level FOB Cincinnati and Ottawa, Ill., for the latest October-November offers.

Western Cornbelt:

TSP was steady at $500-$510/st FOB St. Louis and $520/st FOB Caruthersville in late September.

Brazil:

TSP import prices to Brazil were unchanged at $420-$430/mt CFR. Nearby prices at Rondonopolis jumped to $545/mt FOB ex-warehouse, with demand reportedly centered on the industrial segment. Forward offers for the 2024/25 soybean harvest were indicated at $525-$530/mt FOB ex-warehouse.

SSP

Brazil, Market Watch, SSP

Brazil:

SSP 19-21 imported to Brazil lifted to $220-$240/mt CFR, up from $210-$240/mt CFR at last report. Low-end offers previously reported at $210/mt CFR were no longer available, sources said.

Supply of SSP 19-21 for both the 2023/24 soybean season and the 2024 corn safrinha was hard to come by at Rondonopolis, resulting in $450/mt FOB ex-warehouse pricing for limited offers, while SSP-23 was available for the corn safrinha at $395/mt FOB Rondonopolis. A lack of new negotiations for the 2024/25 harvest held forward references steady at $340-$370/mt FOB ex-warehouse.

Phosphoric Acid

California, Eastern Canada, Pacific N.W., Western Cornbelt

Eastern Cornbelt:

Phos acid postings in the Eastern Cornbelt remained at the $10.15/unit rail-DEL level for September tons. An increase is expected in October.

Western Cornbelt:

The phos acid price for September continued at $10.15/unit rail-DEL in the Western Cornbelt.

California:

September pricing for phos acid remained at $10.25/unit rail-DEL in California, with MGA referenced at $10.45/unit FOB Lathrop. A $0.25/unit increase is scheduled for Oct. 1, however, with postings moving on that date to $10.50/unit rail-DEL and $10.70/unit FOB Lathrop.

Pacific Northwest:

Phos acid pricing for September remained at $9.75/unit FOB Pocatello, Idaho, and $10.25/unit rail-DEL in the Pacific Northwest, but a $0.25/unit increase on Oct. 1 will push prices to $10.00/unit FOB and $10.50/unit rail-DEL in the region.

Ammonium Polyphosphate

California, Eastern Cornbelt, Market Watch, Pacific N.W., Western Canada, 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 was reported at $475-$490/st FOB in the Western Cornbelt for the latest offers, with the low confirmed in Iowa.

California:

The 10-34-0 market was quoted at $483-$488/st FOB in California for September tons, with 11-37-0 referenced at $526-$531/st FOB El Centro. Prices are scheduled to firm on Oct. 1, however, to $511-$516/st FOB for 10-34-0 and $556-$561/st FOB for 11-37-0.

Pacific Northwest:

10-34-0 was pegged at the $465/st FOB level in the Pacific Northwest for September, with 11-37-0 pricing quoted at the $500/st FOB level. An increase will take effect on Oct. 1 for both products, but new pricing levels were not disclosed.

Western Canada:

The latest 10-34-0 offers in Western Canada reportedly jumped to C$810/mt DEL for September-October business, up from the C$700-$710/mt DEL summer price.

Muriate of Potash

Brazil, California, Eastern Cornbelt, India, Market Watch, Pacific N.W., Potash Muriate, U.S. Gulf, Western Canada, Western Cornbelt

US Gulf:

The NOLA potash market remained at $340-$345/st FOB for the last reported business, unchanged from last week, with sources expressing concern about the impact of low river levels on barge movements.

Eastern Cornbelt:

Potash was unchanged at $385-$400/st FOB in the Eastern Cornbelt, with the high out of inland warehouses and the low at river terminals. The Cincinnati market was pegged at $385-$395/st FOB in late September.

Western Cornbelt:

Potash was quoted at $370-$395/st FOB in the Western Cornbelt, with low confirmed at St. Louis and the high in Iowa.

California:

The potash market was quoted at $510-$533/st FOB or DEL in California, up from the previous $495-$503/st range, depending on grade.

Pacific Northwest:

Potash was steady at $465-$488/st FOB or DEL in Pacific Northwest, with the high reflecting reference pricing for 62% MOP. The latest postings from Intrepid FOB Moab and Wendover, Utah, include $440/st FOB for 60% white granular and $435/st FOB for 60% white standard.

Western Canada:

Potash truck pricing in Western Canada remained at C$545-$555/mt FOB Saskatchewan mines for September-December shipment, depending on grade.

India: 

Rumors that subsidy support for potash and phosphates might be reduced are circulating in the market. So far there has been no confirmation from the government that such a plan is even being considered.

Potash imports firmed slightly in January-July, Trade Data Monitor reported, to 1.8 million mt from the year-ago 1.7 million mt. Russia accounted for 23% of the market with 410,000 mt after sending no potash to India during the same period of 2022.

July imports were pegged at 334,000 mt, up 24% from 235,000 mt received in July 2022. Canada led suppliers with 147,000 mt, followed by 94,000 mt from Russia.

Brazil:

Brazil potash declined for a second consecutive week. The landed price slipped to $340-$350/mt CFR, off $10/mt from the week-ago top, with multiple reports indicating product available on a formula basis from a variety of origins.

Rondonopolis prices were also down, narrowing to $480-$485/mt FOB ex-warehouse from the week-ago $485-$495/mt FOB. The market could still fall further considering the current import price.

Sulfur

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

Tampa:

No new fourth-quarter Tampa molten sulfur contracts were reported settling as of Sept. 28. The third-quarter contract was valued at $55/lt CFR.

US Gulf:

The US Gulf market widened to $95-$105/mt FOB from the week-ago $100-$103/mt FOB, sources said.

Brazil:

Brazil sulfur imports lifted to $127-$140/mt CFR, an increase from $126-$135/mt CFR at last report. While the results of the CMOC tender have not been released, sources expected offers to run toward the top of the week’s range.

Vancouver:

Vancouver prill levels increased $2/mt at the high end, to $90-$97/mt FOB from the week-ago $90-$95/mt FOB.

Alberta:

Based on firming prices at Vancouver, Alberta netbacks lifted to (-)$60-$27/mt FOB. The wide range included both molten sulfur cargoes contracted into the US market and solid tons sold through the Vancouver export market.

West Coast:

West Coast solid sulfur prices remained on par with Vancouver at $90-$97/mt FOB. Third-quarter molten sulfur contracts were steady at $45-$50/lt FOB, down 53% from $98-$106/lt FOB in the prior period

China:

China import prices were reported at $120-$126/mt CFR, edging up from $120-$125/mt CFR in the prior report. No new transactions are expected in the week ahead due to China’s upcoming Golden Week holiday.

ADNOC:

Solid sulfur produced by the Abu Dhabi National Oil Co. (ADNOC) was offered at $103/mt FOB Ruwais for September. Additionally, sources reported fourth-quarter contracts settling at $103/mt FOB.

Qatar:

October posted prices for Muntajat sulfur were noted at $104/mt FOB Ras Laffan, up $2/mt from $102/mt FOB in September.

Ammonium Thiosulfate

Amthio, California, Eastern Cornbelt, Market Watch, Pacific N.W., Western Cornbelt

Eastern Cornbelt:

The ammonium thiosulfate market was unchanged at $245-$270/st FOB in the Eastern Cornbelt, with the low reported at Terre Haute, Ind., and the high out of inland terminals in Ohio. The Cincinnati market remained at the $255/st FOB level in late September. Sources said an increase is imminent in the wake of higher ammonia and sulfur prices, however.

Western Cornbelt:

Ammonium thiosulfate remained at $225-$260/st FOB in the Western Cornbelt, with the low at Waterloo, Iowa.

California:

Ammonium thiosulfate offers continued at $340/st FOB in California.

Pacific Northwest:

Ammonium thiosulfate pricing remained at $315/st FOB and $305/st rail-DEL in the Pacific Northwest.