All posts by hlancey@bloomberg.net

UAN

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

US Gulf:

NOLA UAN barge prices remained at the $230/st ($7.19/unit) FOB level for the last confirmed business. While offers continued to be reported at $240/st ($7.50/unit) FOB for November-December shipment, no new business was confirmed at that level.

US Imports:

UAN imports rose 66.3% in July-June, to 2.85 million st from the prior-year 1.71 million st. Imports were up 118.8% in June, to 197,844 st from the year-ago 90,442 st. Russia sent 2.00 million st of UAN to the US for the July-June fertilizer year. Canada added 439,330 st, and Trinidad sent 324,593 st.

US Exports:

UAN exports were up 261.6% in July-June, lifting to 2.36 million st from the year-ago 653,702 st. June exports punched in at 178,313 st, up 28.7% from 138,592 st recorded one year earlier. The US sent 785,241 st to France in July-June, ahead of 392,683 st to Australia. Belgium purchased 312,130 st, and Argentina took 227,955 st.

Eastern Cornbelt:

The UAN-32 market was unchanged at $275-$280/st ($8.59-$8.75/unit) FOB regional terminals for 4Q tons. UAN-28 offers at Cincinnati were confirmed at the $245/st ($8.75/unit) FOB level in early August.

Western Cornbelt:

UAN-32 was quoted at $275-$285/st ($8.59-$8.91/unit) FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis and Port Neal, Iowa. Truck-DEL pricing in Nebraska was confirmed at the $290/st ($9.06/unit) level for limited tons.

Southern Plains:

UAN-32 pricing in the Southern Plains strengthened on July 31 to $255/st ($7.97/unit) FOB Verdigris and $260/st ($8.13/unit) FOB Woodward, Okla., up $20-$25/st from the prior postings on July 25.

South Central:

The UAN-32 market was pegged at $255-$275/st ($7.97-$8.59/unit) FOB South Central terminals, with the low in Louisiana and the high reported in Kentucky.

Southeast:

The UAN-32 market in the Southeast was pegged firmly at the $260/st ($8.13/unit) level FOB port terminals for the latest offers, up from earlier fill prices at $240/st ($7.50/unit) FOB.

Ammonium Nitrate

Ammonium Nitrate, Market Watch, Poland, South Central, Southern Plains, U.S. Exports, U.S. Imports, Western Cornbelt

US Imports:

July-June ammonium nitrate imports softened 7.7% year-over-year, to 310,066 st from 335,937 st. June imports were down 31.2%, falling to 15,308 st compared to the year-ago 22,251 st. Cargoes shipping to the US from Canada totaled 215,779 st in July-June. Russia added 90,712 st.

US Exports:

Ammonium nitrate exports firmed 89.2% in June, to 80,365 st from the year-go 42,472 st. Exports were counted at 647,599 st for July-June, up 45.1% from the year-ago 446,213 st. Canada topped the fertilizer-year export list with 327,367 st. Mexico received 165,962 st, followed by Lithuania with 96,696 st.

Western Cornbelt:

Ammonium nitrate was unchanged at $400-$420/st FOB for the last confirmed offers in Missouri.

Southern Plains:

Ammonium nitrate pricing slipped to $330/st FOB Muskogee, Okla., for new offers.

South Central:

The ammonium nitrate market was steady at $290/st FOB Yazoo City, Miss., and $340/st FOB spot river terminals.

Poland:

Grupa Azoty reported that its nitrogen fertilizer production in July fell 45% year-over-year, to 151,000 mt from 274,000 mt in July 2022.

Ammonium Sulfate

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

US Gulf:

The ammonium sulfate barge market remained at the $220/st FOB NOLA level for the last confirmed business. Offers continued to be reported at $230-$240/st FOB, but with no new trades to test the higher numbers.

US Imports:

June ammonium sulfate imports firmed 184.5%, to 67,264 st from the year-ago 23,647 st. Imports totaled 885,007 st for the July-June fertilizer year, however, off 1.5% from 898,829 st in the prior-year period. Canadian imports were reported at 448,232 st for July-June, ahead of 209,065 st from Belgium and 105,327 st from South Korea.

US Exports:

July-June ammonium sulfate exports totaled 786,321 st, up 24.6% from the year-ago 630,859 st. June imports lifted 17.2%, to 80,365 st from the prior-year 68,559 st. July-June exports to Peru totaled 158,799 st, ahead of 144,212 st to Brazil. Canada bought 110,432 st.

Eastern Cornbelt:

Granular ammonium sulfate pricing reportedly firmed to $290-$310/st FOB in the Eastern Cornbelt, depending on location, up $20/st from last report.

Western Cornbelt:

The granular ammonium sulfate market remained at $285-$300/st FOB in the Western Cornbelt.

Southern Plains:

Granular ammonium sulfate was reported in a broad rage at $285-$350/st FOB for the latest offers in the Southern Plains, with the low at Houston and the high reflecting reference pricing at Catoosa/Inola.

South Central:

Although reference prices were as high as $360/st FOB on a spot basis in the region, the low end of the ammonium sulfate market was reported at $250-$285/st FOB based on netbacks from rail or truck sales.

Southeast:

Ammonium sulfate prices in the Southeast slipped to $220-$240/st FOB for standard grade in Florida, down from the prior $280/st level, with granular product quoted at $350/st FOB in Florida. Postings from AdvanSix FOB Hopewell, Va., are slated to move on Aug. 14 to $245/st for standard, $265/st for mid-grade, and $295/st for granular.

China:

Low inventories of ammonium sulfate have moved up prices, sources said. Industry watchers now put caprolactam grade amsul at $180-$185/mt FOB.

Brazil:

While prices in the international markets remain stable, ammonium sulfate prices at Brazil retreated to $220-$225/mt CFR from the week-ago $230-$235/mt CFR, following the correction in nitrogen pricing. Ammonium sulfate followed urea lower in Rondonopolis, to $345-$350/mt FOB ex-warehouse.

Ammonium sulfate imports softened 24% in January-July, Trade Data Monitor reported, to 1.8 million mt from the year-ago 2.4 million mt. July imports were pegged at 265,000 mt, a 25% decrease from 355,000 mt recorded in July 2022. China supplied 77% of the imports, sending 205,000 mt.

MAP/DAP

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

Central Florida:

DAP trucks loading from Central Florida were posted at $500/st FOB, unchanged from last report. Truck-loaded MAP continued at $550/st FOB. Players reported an increase in North Florida MAP, to $625/st FOB from the week-ago $600/st FOB.

US Gulf:

NOLA DAP barges climbed to $525-$545/st FOB from the week-ago $500-$515/st FOB, with the low side of the range reported trading early in the week. MAP barges began the week at $600/st FOB before lifting as high as $640/st FOB, sources said, a rise from $580-$600/st FOB reported previously.

US Imports:

DAP imports for June firmed 109.1% year-over-year, to 121,239 st from 57,984 st. Imports totaled 995,214 st for July-June, however, falling 4.8% from 1.05 million st in the year-ago period. July-June imports from Saudi Arabia stood at 611,627 st, while material shipped from Australia totaled 135,595 st. Tunisia added 74,957 st.

MAP/Other imports for July-June lifted 17.9%, to 968,913 st from the year-ago 821,800 st. June imports rose 262.1%, to 180,790 st from the prior-year 49,931 st. Exports originating from Russia totaled 390,869 st in July-June, beating both 241,582 st from Saudi Arabia and 143,747 st from Australia. Mexico sent 130,821 st.

US Exports:

Export prices moved up to $520/mt FOB on reports of limited third-quarter availability and small-volume sales.

DAP exports moved up 250.9% in June, to 117,955 st from 33,614 st in June 2022. July-June exports firmed 18.5%, to 808,227 st from the year-ago 682,259 st. The US sent 208,537 st of DAP to India in the July-June period, ahead of both 104,951 st to Peru and 96,843 st to Uruguay. Mexico bought 79,948 st of US product.

June MAP/Other exports moved 67.4% lower, to 91,373 st from 280,660 st in June 2022. July-June totals were down 11.8% year-over-year, sinking to 2.15 million st from 2.43 million st. MAP/Other exports to Canada totaled 1.46 million st in July-June, ahead of 242,831 st to Brazil and 110,882 st to Australia.

Eastern Cornbelt:

Phosphate prices continued to strengthen, fueled by firming NOLA barge prices and reports of tight supply. DAP jumped to $570-$580/st FOB in the Eastern Cornbelt, up from last week’s $535-$560/st range, with both the high and low confirmed in Cincinnati during the week.

MAP pricing was quoted at $665-$680/st FOB in the region, up from the prior $635-$645/st FOB, with the upper end of the range reported at Cincinnati.

Western Cornbelt:

DAP prices moved up to $560-$580/st FOB during the week, $20/st higher than the prior week, with the low confirmed at Caruthersville, Mo. The St. Louis DAP market was pegged firmly at the $570-$575/st FOB range, up from last week’s $540-$555/st range.

MAP pricing strengthened to $665-$680/st FOB in the Western Cornbelt, up from $630-$650/st FOB the week before, with the St. Louis market quoted at $670-$675/st FOB.

Southern Plains:

DAP and MAP pricing continued to climb in the Southern Plains, with sources talking of tight supply that “will hit this fall.”

DAP firmed to $575-$590/st FOB Catoosa/Inola and $600/st FOB Houston during the week, up from the prior week’s $530-$560/st FOB range. MAP was pegged at $670-$690/st FOB Catoosa/Inola and $650/st FOB Houston, up from last week’s $630-$640/st FOB.

South Central:

DAP prices in the South Central region bumped up to $560-$580/st FOB, from last week’s low of $540/st FOB.

Southeast:

MAP postings from Nutrien were up $25/st, to $625/st FOB Aurora, N.C., and White Springs, Fla.

China:

A number of small, container-sized deals were concluded at $480-$500/mt FOB, sources said. Near the end of the week, players reported a deal into India at $540/mt CFR, showing a netback of $515-$520/mt FOB. The higher price was expected to be reflected in a Bangladesh DAP tender, once numbers there are released.

India: 

Sources reported a DAP sale from China at $540/mt CFR. Sources said this matched up with a reported deal with OCP/Morocco to supply 100,000 mt of DAP in September at $490-$525/mt CFR.

The rising price of imported DAP has provided an incentive for domestic producers to step up their operations. Unfortunately, said one trader, recent typhoons have caused some damage to production facilities.

Brazil:

MAP increased slightly to $500-$520/mt CFR, as market players reported production issues in the Arab Gulf constraining supply and tightening the market. The bottom of the range transacted earlier in the week, while prices chased liquidity higher as the week wore on. New offers were expected around $530/mt CFR.

Citing both low prompt availability and limited seasonal demand in the region, the Rondonopolis MAP range widened to $630-$650/mt FOB ex-warehouse.

January-July MAP imports fell 4% year-over-year, Trade Data Monitor reported, to 2.8 million mt from the 2.7 million mt in 2022. Imports were counted at 518,000 mt for July, down 10% from the prior-year 579,000 mt. Russia sent 246,000 mt in July, while Saudi Arabia added 218,000 mt.

TSP

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

US Gulf:

NOLA TSP barges traded up to $450-$460/st FOB, sources said, increasing from $420-$440/st FOB noted one week earlier.

Eastern Cornbelt:

TSP strengthened to $510-$515/st FOB Cincinnati for the latest offers, up from the previous $475-$485/st FOB level.

Western Cornbelt:

TSP pricing firmed to $495-$500/st FOB St. Louis, up from the previous $450-$460/st FOB range, with the low also reported at Caruthersville during the week.

South Central:

TSP pricing was higher in the South Central region, firming to $480-$500/st FOB for new offers, with the low reported at Memphis and the high in Arkansas.

Brazil:

TSP prices firmed $400-$410/mt CFR from the week-ago $390-$395/mt CFR. Faced with few offers in the market, Rondonopolis TSP prices slipped to $500-$540/mt FOB ex-warehouse for both immediate and forward deliveries.

SSP

Brazil, Market Watch, SSP

Brazil:

Prices slipped $5/mt to $210-$240/mt CFR, with lower-quality material quoted at the bottom of the range.

As suppliers prepare to meet 2024-2025 demand, sources noted new activity in the Rondonopolis SSP market, stretching prices to $310-$410/mt FOB ex-warehouse. Future deliveries tracked toward the lower end of the range, while prompt availability set the highs.

Phosphate Rock

Market Watch, Phosphate Rock, U.S. Imports

US Imports:

Phosphate rock imports totaled 202,254 st for June, up 4.0% from the year-ago 194,431 st. July-June volumes were 3.05 million st, rising 13.9% from 2.68 million st in the prior-year period. July-June phos rock imports from Peru were recorded at 3.04 million st, while product loading from Canada totaled 5,317 st. Japan sent 5,066 st.

Phosphoric Acid

Eastern Cornbelt, Market Watch, Southern Plains, U.S. Exports, Western Cornbelt

US Exports:                                 

Phosphoric acid exports for June firmed 487.1% year-over-year, to 48,100 st from 8,193 st. July-June shipments were 30.3% higher, at 322,462 st compared to the year-ago 247,562 st. India received 213,952 st of phos acid from the US in July-June. Mexico received 67,480 st, while Canada took 35,374 st.

Eastern Cornbelt:

August phosphoric acid postings in the Eastern Cornbelt were quoted at $9.90/unit rail-DEL, up $0.25/unit from July.

Western Cornbelt:

The phos acid price remained at $9.90/unit rail-DEL in the Western Cornbelt for August tons.

Southern Plains:

Phos acid was quoted at $9.90/unit rail-DEL in the Southern Plains for August tons, up from July’s $9.65/unit reference price.

Ammonium Polyphosphate

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

Eastern Cornbelt:

10-34-0 remained at the $450/st FOB level for the last confirmed fill offers in Ohio and Michigan, sources said.

Western Cornbelt:

10-34-0 was pegged at a nominal $445-$465/st FOB in the Western Cornbelt for fill offers.

Southern Plains:

10-34-0 was unchanged at $460/st FOB in the Southern Plains for the last confirmed business, with the 11-37-0 market quoted at the $500/st FOB mark in Texas.

Muriate of Potash

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

US Gulf:

NOLA potash continued to be reported at a low of $310-$315/st FOB for confirmed trades, though sources also reported new business at a high of $317-$325/st FOB during the week. Offers were quoted as high as $330-$335/st FOB, but no business was reported at that level.

US Imports:

June potash imports were 886,256 st, off 4.4% from the year-ago 926,899 st. July-June volumes softened 8.9%, to 12.01 million st from the prior 13.18 million st. July-June imports from Canada were reported at 10.49 million st. Russia sent 1.10 million st, and Israel added 309,833 st.

US Exports:

June potash exports were 64,161 st, an 82.5% decrease from the year-ago 367,502 st. Exports softened to 3.29 million st in July-June, off 18.6% from 4.04 million st in the prior July-June. US exports to Brazil totaled 1.18 million for the fertilizer year, followed by 483,254 st to China and 381,923 st to South Korea.

Eastern Cornbelt:

Potash was quoted at $380-$400/st FOB in the Eastern Cornbelt, with the low reported at Cincinnati and other river terminals in the region.

Western Cornbelt:

The potash market was reported in the $365-$390/st FOB range in the Western Cornbelt, with the low confirmed at St. Louis.

Southern Plains:

Potash was quoted at $365-$390/st FOB Catoosa/Inola, with the Houston market pegged at the $380/st FOB level.

Intrepid updated its potash prices following a recent fill program, with new postings FOB Carlsbad, N.M., reported at $445/st for 60% white granular and $453/st for 62% white standard. The company’s new list prices at Moab/Wendover, Utah, included $435/st FOB for 60% white standard and $440/st for 60% white granular.

South Central:

Potash was pegged at $365-$390/st FOB in the South Central region, with sources describing a “flat” market.

Southeast:

Potash slipped to $335-$350/st FOB Wilmington, with reports of rail-DEL Canadian tons at the $385-$390/st level in the Southeast.

Brazil:

Prices widened to $330-$360/mt CFR from $345-$360/mt CFR at last report. While most of the market was reportedly focused toward the top of the range, players noted limited availability at the low side of the spread.

Business at Rondonopolis narrowed to $480-$505/mt FOB ex-warehouse during the week, although offers for the 2024-2025 crop continued to be heard at $530/mt FOB. Growing demand for the corn safrinha lifted the low end by $10/mt, while high inventory levels pressured the top of the range.

Trade Data Monitor reported January-July potash imports at 7.1 million mt, a 15% decline from the year-ago 8.4 million mt. July imports totaled 1.2 million mt, off from 1.6 million mt received in July 2022. Russia supplied 367,000 mt, Canada sent 366,000 mt, and Belarus added 150,000 mt.

India:

Reports were circulating of a renegotiated potash deal between India and Uralkali at the $319/mt CFR level, down from the $422/mt contract concluded in April. The price adjustment was not confirmed, however.