All posts by mickeybarb@charter.net

Ammonium Sulfate

Ammonium Sulfate, Brazil, California, China, Eastern Cornbelt, Market Watch, Pacific N.W., Thailand, U.S. Gulf, Western Canada, Western Cornbelt

US Gulf:

NOLA price ideas for ammonium sulfate dropped to $355/st FOB, down from the week-ago $365-$370/st FOB.

Eastern Cornbelt:

The granular ammonium sulfate market was unchanged at $425-$455/st FOB in the Eastern Cornbelt, with the low reported at Cincinnati.

Western Cornbelt:

Granular ammonium sulfate pricing remained at $425-$450/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa.

California:

The ammonium sulfate market was steady at $500-$525/st FOB in California, depending on grade and location, with the high confirmed at Lathrop, Woodland, and Richvale.

Pacific Northwest:

The ammonium sulfate market remained at $430-$470/st FOB and $430-$475/st DEL in the Pacific Northwest, depending on grade, location, and supplier, with the low confirmed for standard and the high for granular product.

Western Canada:

Ammonium sulfate prices in Western Canada were pegged in a broad range at C$650-$690/mt DEL for December-January tons, depending on location.

China:

Sources said softer ammonium sulfate prices continue to dominate discussions in China. Traders now put the market at $170-$175/mt FOB for caprolactam grade amsul. Recent small sales to regional buyers have been pegged at $205-$210/mt CFR, with freight of $40/mt plus costs.

There is a report that demand is weakening in a way that even surprises some buyers. Reportedly, a regional buyer called a tender for amsul but then scrapped it as it became clear it did not need the tons.

Brazil:

Sources in Brazil expressed concern that COVID-related shutdowns in China might affect the price of amsul flowing to Brazil. The Brazilian concern is that these shutdowns might stem the steady drop in prices.

The latest reports show prices at $260-$270/mt CFR, just marginally down from the previous week. Rondonopolis settled at the lower level of $390/mt FOB ex-warehouse. Much of the trading inland was disrupted by concerns that deliveries could not be guaranteed because of strikes by truckers blocking the highways to protest the results of the October national election.

Thailand:

January-October imports of ammonium sulfate were reported at 356,000 mt by Trade Data Monitor, down about 6% from the 380,000 mt imported during the same period in 2021. October 2022 imports of 25,000 mt were down only marginally from the 28,000 mt imported during October 2021. China dominated the supply for October 2022 with 23,000 mt.

Court Approves Joint Motion for Partial Dismissal in American Plant Food/NeuAg Case

Featured, News, Texas

The Harris County District Court on Nov. 28 approved a joint motion by American Plant Food Corp. (APF), NeuAg LLC, Joe Newcomb, and Gregory Caldwell to dismiss with prejudice their claims and counterclaims against each other. The reason given was that all matters of fact and things of controversy have been fully and finally compromised and settled between them.

The Court noted, however, that the motion did not affect the claims and counterclaims between Plaintiff APF and Defendant BASF Corp. Settlement negotiations are believed to be continuing between those two parties. Opening arguments in the lawsuit were heard on Nov. 17 (GM Nov. 18, p. 30), and the trial proceeded until the motion to dismiss was filed on Nov. 28.

Agricultural Retailers Association – Management Brief

Management Briefs

At its 2022 Conference and Expo in San Diego, Calif., on Nov. 29-Dec. 1, the Agricultural Retailers Association (ARA) presented several awards and honors.

Winner of the 2022 Jack Eberspacher Lifetime Achievement Award was Tim McArdle for his work with Brandt Co. and ResponsibleAg. This year’s Distinguished Service Award went to Gary Vogen, Vice President of Corporate and Regulatory Affairs at Yara North America.

The Retailer of the Year Award went to Marion Ag Service Inc., Saint Paul, Ore., and was accepted by Marion Ag Service Executive Vice President Tom Wimmer. The 2022 AGCO Operator of the Year winner was Pat Hoefling of Nutrien Ag Solutions, Odebolt, Iowa. The first ever Scoop Business Innovation Award, presented by EFC Systems and Farm Journal, went to Ceres Solutions Crops 63, Perryville, Ind.

ARA also used the conference venue to recognize a group of emerging ag retail leaders as part of its Rising Stars professional development program, sponsored by Atticus. This year’s members include Jessica Alderson, ADM Fertilizer; Loren Babe, GROWERS; Luke DeGroot, GAR Bennett; Brett Dible, Pathway Ag LLC; Zachary Emmendorfer, River Bend Ag LLC; Amanda Ganes, Novus Ag LLC; Lena Head, AgVend; Jessi Hintz, GROWMARK; Edgard Jauregui, Heliae® Agriculture; Alex Johnson, Novus Ag LLC; Greg Kamienski, Grow West; Matt Kirby, Nutrien Ag Solutions; William Lunt, Precision Tank; Adam McIntyre, MFA Inc.; Allison Mockler, Agtegra Cooperative; Aubrey Overcash, Southern States Cooperative; Nick Patterson, Tri County Ag LLC; Mitchell Perigo, CDMS/Proagrica; Joseph Rasnic, AgSyn LLC; Chelsea Rodriguez, International Raw Materials Ltd; Brett Schmitz, Grow West; Lauren Taylor, Co-Alliance Cooperative; Ben Westendorf, GROWERS; and Jason Worthington, MFA Inc.

DAP/MAP

Argentina, Brazil, California, Central Florida, China, DAP/MAP, Eastern Cornbelt, India, Market Watch, Pacific N.W., U.S. Exports, U.S. Gulf, Western Canada, Western Cornbelt

Central Florida:

DAP trucks loading from Central Florida shifted lower during the week, with posted prices moving to $700/st FOB, off from the prior $770/st FOB. Sources reported truck-loaded MAP softening to $710/st FOB from the prior $790/st FOB.

North Florida MAP trucks were quoted at $750/st FOB, falling from $820/st FOB at last report.

US Gulf:

Players noted a hint of stability creeping into the NOLA DAP and MAP markets for the week, with DAP values holding steady while MAP prices slid at the low end of the range.

After being reported as sold out for most of November and first-half December loading, domestically-produced DAP barges were reported trading at $640/st FOB for full-December loading, even with the week-ago high. Players noted bidding at $625/st FOB during the week, below the week-ago $635/st FOB floor, although no trades were confirmed at that level on Dec. 1. Offers were heard lifting to $645/st FOB for the week, with no trades reported.

Domestic DAP barges shipping in January and February were quoted at $640/st FOB.

Domestically-produced MAP barges were reported changing hands at the week-ago high of $640/st FOB, while nearby lows were typically seen in the $625-$630/st FOB range. Offers of imported material rumored at $620/st FOB for December loading went unconfirmed on Dec. 1.

The nearby NOLA DAP market continued at a $635-$640/st FOB, unchanged from one week earlier. MAP barges loading from NOLA were pegged at $625-$640/st FOB for nearby release, below last week’s $630-$640/st FOB range.

US Exports:

No new business was reported in the US Gulf phosphate export market. Recent reported trading included a 25,000 mt DAP cargo sold into northern Latin America. Priced at $692/mt FOB, the tons were expected to load in December.

With no new trading reported, the export markets continued to be reported at $692/mt FOB, steady from week-ago levels.

Eastern Cornbelt:

DAP was steady at $795-$810/st FOB in the Eastern Cornbelt, with the Cincinnati market reported at $800-$810/st FOB. MAP pricing was quoted at $800-$820/st FOB in the region, with both the high and low confirmed at Cincinnati.

In the Southeast, Nutrien confirmed that its MAP postings dropped on Nov. 28 to $750/st FOB Aurora, N.C., and White Springs, Fla., down from the previous $820/st FOB level. DAP is currently unavailable at Aurora.

Western Cornbelt:

DAP was quoted at $790-$805/st FOB in the Western Cornbelt. MAP remained at a discount to DAP, with the market reported at $780-$810/st FOB, depending on location. St. Louis pricing was pegged at $790-$800/st FOB for DAP and $780-$785/st FOB for MAP.

California:

MAP pricing in California was quoted at $835/st FOB or DEL for new offers, down significantly from the last reported $900/st level.

Pacific Northwest:

MAP pricing in the Pacific Northwest was confirmed at $815/st FOB or DEL, up from some recent 1Q business at the $800/st level, but down sharply from the last prompt postings at $870-$890/st FOB or DEL earlier in November.

Western Canada:

MAP prices also softened in Western Canada. New delivered pricing was confirmed at C$1,140-$1,180/mt in the region, down significantly from the prior C$1,270-$1,280/mt DEL range. The FOB warehouse market was pegged at C$1,165-$1,200/mt for December-January tons, below the previous C$1,220-$1,260/mt FOB range.

China:

Sources said the price of DAP remains at $720/mt FOB, based on earlier sales into India. The main focus on exports seems to be covering contracted tons and not seeking out any spot deals.

India:

Sources reported that about 100,000 mt of DAP and MAP have been booked for delivery into India. The DAP prices are reportedly $735/mt CFR for Russian product and $750/mt CFR for Chinese DAP. Reportedly, Russian MAP was sold at $640/mt CFR.

Concern about DAP levels in the country were addressed by government officials in speeches and media interviews. The officials assured farmers and local distributors that there are sufficient quantities of DAP to cover needs into January. After January, they said, additional purchases will be made to build reserves for the next application season.

Brazil:

Buyers of MAP began testing the market, moving the price up to $600-$630/mt CFR. Sources said the lower end of the range is for material already offloaded from vessels and ready for shipment to local distributors. The upper end of the range is reportedly for the replacement tons either on vessels waiting to dock or cargoes on their way to Brazil.

Sources said sellers are trying to move up the price because they see the Brazil buyers enjoying a discount compared to other global markets.

The price of MAP in Rondonopolis widened to $740-$780/mt FOB ex-warehouse.

Argentina:

Imports of MAP for January-October were reported at 749,000 mt by Trade Data Monitor, down about 13% from the 865,000 mt imported during the same period in 2021. The main suppliers were Morocco with 319,000 mt, the US with 191,000 mt, and China with 181,000 mt.

October 2022 imports were reported at 144,000 mt, down from the 158,000 mt imported during October 23021. Morocco accounted for 51% of the imports with 41,000 mt. China took 26% of the import market with 37,000 mt, followed by the US with 33,000 mt for 23% of the imports.

TSP

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

US Gulf:

Sources quoted NOLA TSP barges in the $590-$600/st FOB range for the week, with some arguing that tons could be had with a $580/st FOB bid. The market was previously reported at $600-$610/st FOB.

Eastern Cornbelt:

The TSP market remained in a broad range at $755-$785/st FOB Cincinnati, depending on supplier.

Western Cornbelt:

TSP pricing was steady at $750-$760/st FOB in the Western Cornbelt.

Phosphoric Acid

California, Eastern Cornbelt, India, Market Watch, Pacific N.W., Phosphoric Acid, Western Cornbelt

Eastern Cornbelt:

November phos acid postings in the Eastern Cornbelt remained at $14.00/unit rail-DEL. No pricing changes are scheduled for December.

Western Cornbelt:

Phos acid pricing was unchanged at $14.00/unit rail-DEL in the Western Cornbelt for December tons.

California:

November pricing for phos acid remained at $14.00/unit rail-DEL in California, with MGA referenced at $14.20/unit FOB Lathrop. No pricing changes were reported for December.

Pacific Northwest:

December pricing for phos acid remained at $13.50/st FOB Pocatello, Idaho, and $14.00/unit rail-DEL in the Pacific Northwest, unchanged from November.

India:

Fourth-quarter contracts for phosphoric acid sold to India were reported at $1,100-$1,200/mt P2O5 CFR, a decrease of $515-$615/mt from $1,715/mt CFR logged in the second and third quarters.

Ammonium Polyphosphate

Ammonium Polyphosphate, California, Eastern Cornbelt, Market Watch, Pacific N.W., Western Canada, Western Cornbelt

Eastern Cornbelt:

10-34-0 was unchanged at $665-$675/st FOB in the Eastern Cornbelt, with pricing out of Michigan warehouses pegged at the $680/st FOB level.

Western Cornbelt:

10-34-0 was quoted at the $655-$675/st FOB level in the Western Cornbelt for the last confirmed offers.

California:

The 10-34-0 market in California was steady at $691-$696/st FOB Helm, with 11-37-0 pricing referenced at $753/st FOB El Centro.

Pacific Northwest:

10-34-0 pricing was steady at $675-$685/st FOB in the Pacific Northwest, while 11-37-0 postings remained at $725/st FOB Hedges, Wash., and $705/st DEL in Idaho.

Western Canada:

10-34-0 pricing in Western Canada remained at C$940-$965/mt DEL for the last confirmed offers.

Muriate of Potash

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

US Gulf:

NOLA potash barge prices continued to erode, slipping to $500-$510/st FOB from the week-ago $520-$530/st FOB.

Eastern Cornbelt:

The potash market remained at $610-$630/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati.

Western Cornbelt:

Potash prices continued to be reported in the $595-$610/st FOB range in the region, with the low confirmed at St. Louis.

California:

New potash offers in California were confirmed as low as $808/st FOB for 62% MOP, down from $890/st FOB at last report, while potash reference prices remained as high as $870/st FOB from some suppliers.

Pacific Northwest:

Potash pricing remained in a broad range at $815-$865/st FOB in the Pacific Northwest, depending on grade and supplier, with delivered tons pegged at $820-$872/st. Producer postings out of warehouses in Washington and Oregon included $845/st FOB for 60% MOP and $865/st FOB for 62% MOP.

The last potash reference prices from Intrepid FOB Moab and Wendover, Utah, included $850/st for 60% white standard and $855/st for 60% white granular.

Western Canada:

Truck pricing for potash in Western Canada slipped to C$920-$945/mt FOB Saskatchewan mines, below the previous C$940-$990/mt FOB range.

Brazil:

Supply competition for MOP pushed prices lower in Brazil. Sources put the landed price at $500-$530/mt CFR, with further declines expected into the first quarter of 2023.

The Rondonopolis price was reported at $650-$680/mt FOB ex-warehouse. The lower price came from aggressive buyers and sellers willing to drop their price to help empty their warehouses.

Thailand:

January-October imports of MOP were reported at 682,000 mt by Trade Data Monitor, down about 17% from the 819,000 mt imported during the same period in 2021. Canada dominated the sales, sending 343,000 mt. October 2022 imports were reported at 16,000 mt, down 56% from the 36,000 mt imported during October 2021.

India:

Indian Fertilizers Ltd. (NFL) issued a request for proposal (RFP) on Dec. 1 for entering into a long-term agreement (MOU) with potash producers for 250,000 mt firm of standard pink/red/white potash to be shipped over a 12-month period from the date of contract signing or a period mutually agreed upon. The deadline for submissions is Dec. 22.

Shipment proposals are as follows:

Quantity (mt) Coast Proposed shipments from load port
150,000 ECI/WCI March 15-June 15, 2023
100,000 ECI/WCI Aug. 15-Oct.15, 2023