All posts by mickeybarb@charter.net

UAN

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

US Gulf:

NOLA UAN barge prices remained in the $550-$555/st ($17.19-$17.34/unit) FOB range.

Eastern Cornbelt:

UAN-32 pricing was reported at $590-$610/st ($18.44-$19.06/unit) FOB in the Eastern Cornbelt, depending on location and availability, with the low reported at Mount Vernon, Ind. Rail-DEL offers were steady at $625-$635/st ($19.53-$19.84/unit) in the region. The last UAN-28 offers were quoted at $530/st ($18.93/unit) FOB Cincinnati, Ohio.

Western Cornbelt:

UAN-32 pricing remained at $585-$610/st ($18.28-$19.06/unit) FOB for limited offers in the Western Cornbelt, with the low reported at Port Neal, Iowa.

Southern Plains:

Most UAN-32 offers fell in the $555-$565/st ($17.34-$17.66/unit) range FOB production points in Oklahoma and Kansas, with the low reported at Woodward. The upper end of the regional range was reported at $585/st ($18.28/unit) FOB Gulf Coast terminals in Texas.

South Central:

UAN-32 prices were reported at $590-$600/st ($18.44-$18.75/unit) FOB for limited offers in the South Central region, with the low confirmed by Kentucky sources out of spot Ohio River terminals.

Southeast:

The UAN-32 market was quoted at $580-$595/st ($18.13-$18.59/unit) FOB port terminals in early November, with the high confirmed at Savannah, Ga. The low end of the regional market was reported at the $550/st ($17.19/unit) FOB level out of inland terminals in Georgia on a spot basis.

Ammonium Nitrate

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

Western Cornbelt:

The ammonium nitrate market was unchanged at $640-$650/st FOB Missouri terminals for the last reported offers.

Southern Plains:

Ammonium nitrate pricing was steady at $650-$660/st FOB in Oklahoma for the last confirmed offers.

South Central:

Sources said no current offers were on the table for ammonium nitrate in the region in early November. The last confirmed pricing was at the $670-$675/st FOB level at Yazoo City, Miss.

Ammonium Sulfate

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

US Gulf:

The NOLA ammonium sulfate barge market continued to be quoted in the $400-$410/st FOB range.

Eastern Cornbelt:

The granular ammonium sulfate market slipped to a broad $440-$480/st FOB in the Eastern Cornbelt, with the Cincinnati market quoted at the low end of the range and reflecting a drop of $20/st from last report.

Western Cornbelt:

Granular ammonium sulfate pricing was pegged at $440-$480/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa.

Southern Plains:

Granular ammonium sulfate pricing in the Houston market remained at $425-$450/st FOB, with reports of delivered tons at $440-$475/st in central Texas. The Catoosa/Inola market was quoted at the $450/st FOB level in early November.

South Central:

Ammonium sulfate pricing remained at $440-$450/st FOB in the South Central region, with the low confirmed at Memphis and the high in Arkansas.

Southeast:

Following a $40/st posted increase from AdvanSix on Oct. 17, ammonium sulfate pricing FOB Hopewell, Va., was reported at $490/st FOB for granular, $450/st FOB for mid-grade, and $430/st FOB for standard. Pricing in the Florida market remained at $395/st FOB/DEL for standard and $505/st FOB/DEL for granular.

Brazil:

The landed ammonium sulfate price remained stable at $280-$285/mt CFR, with little buying interest at the port.

There was little trade in Rondonopolis as buyers and sellers had to deal with blockages of major highways by supporters of President Jair Bolsonaro, who were protesting his defeat in the Oct. 30 presidential election. Prices remained steady at $410-$420/mt FOB ex-warehouse as things calmed down.

October 2022 imports of ammonium sulfate were reported at 664,000 mt, compared with 374,000 mt imported in October 2021. January-October imports were reported at 3.8 million mt, up from the 2.9 million mt purchased during the same period in 2021.

Turkey:

January-September 2022 imports of ammonium sulfate were reported at 748,000 mt by Trade Data Monitor, up about 12% from the 665,000 mt imported during the same period in 2021. Not surprisingly, China dominated the market with 613,000 mt.

Third-quarter 2022 imports were reported at 54,000 mt, down from the 145,000 mt imported during the same three months last year.September 2022 imports were pegged at 16,000 mt, down from the 57,000 mt in September 2021, with Chinese suppliers accounting for the whole amount.

Thailand:

January-September 2022 imports of ammonium sulfate were reported at 331,000 mt by Trade Data Monitor, down marginally from the 351,000 mt imported during the same period of 2021.

Third-quarter imports were reported at 116,000 mt, up almost 60% from the 73,000 mt imported during the same three months of 2021.September 2022 imports were pegged at 31,000 mt, up dramatically from the 3,000 mt imported during September 2021, with Chinese suppliers accounting for 29,000 mt of the imports.

DAP/MAP

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

Central Florida:

DAP trucks loading from Central Florida were posted at $770/st FOB, steady from the prior report. Truck-loaded MAP remained at $790/st FOB. Sources described November-loaded tons as sold out, while minimal availability remained for December.

MAP trucks loading from North Florida were pegged at $820/st FOB, also flat from the prior report.

US Gulf:

With travel on the Mississippi River impacted by low water levels on the lower river system and seasonal closures for NOLA releases to upper river destinations, DAP and MAP barge prices slipped during the week.

DAP barge prices dropped to $685-$705/st FOB for the period, sources said, down from the prior week’s $700-$720/st FOB range. Moving DAP barges were heard trading at a $715-$720/st FOB NOLA-equivalent, illustrating the market’s ongoing preference for upriver barges.

NOLA MAP barges continued to be offered at a discount to DAP. Sources noted early-week MAP offers at $670/st FOB before dropping to a low of $650-$660/st FOB on Nov. 3, while the top of the range was reported at $700/st FOB. The weekly $650-$700/st FOB range was down from last week’s $695-$725/st FOB.

Domestic producers reported being sold out of NOLA DAP and MAP barges for November, while available supply for December loading was “thin.” Warehouse tons were also described as limited. The reduced supply was described as a product of both strong seasonal demand and a hangover from Hurricane Ian, which reportedly removed an estimated 200,000-250,000 mt from Florida production in the third and fourth quarters.

US Exports:

While no new cargoes were reported selling out of the US Gulf for the week, players noted a DAP vessel loading from NOLA associated with a previously-reported sale. With nothing new heard trading for the week, the Gulf DAP and MAP markets were unchanged at $700/mt FOB.

Eastern Cornbelt:

DAP was quoted at $800-$830/st FOB in the Eastern Cornbelt, down $10/st from last report, with MAP pegged in the $830-$855/st FOB, depending on location. The Cincinnati market inched up to $820-$830/st FOB for DAP and $845-$855/st FOB for MAP, with Ottawa MAP quoted at the $840/st FOB level at midweek.

Western Cornbelt:

DAP was quoted at $795-$815/st FOB in the Western Cornbelt, with the low confirmed at Caruthersville, Mo. MAP was pegged at $815-$845/st FOB in the region, depending on location, with the high reported in Iowa. The St. Louis market was quoted at $810-$815/st for DAP and $815-$820/st FOB for MAP.

Southern Plains:

DAP pricing was quoted at $805-$815/st FOB Catoosa/Inola, with the Houston market reported at the $810/st FOB level at midweek. Sources described DAP supply in Oklahoma as tight in early November. MAP was pegged at $810-$825/st FOB Catoosa/Inola and $820/st FOB Houston, with rail-DEL tons reported in a broad $810-$840/st range in central Texas.

South Central:

DAP pricing in the South Central region was quoted at $790-$805/st FOB in early November, down from the prior week’s $800-$810/st FOB range, with the low confirmed at Memphis.

Southeast:

MAP pricing from Nutrien was unchanged at the $820/st level FOB Aurora, N.C., and White Springs, Fla. DAP is currently unavailable at Aurora.

India:

The Indian government announced it would increase subsidies for DAP and other phosphate fertilizers. In a statement to local media, Minister for Fertilizers and Chemicals Mansukh Mandaviva said without the action farmers would pay about $32 for each 45-kg bag of DAP, or about $950/mt, instead of the subsidized $16.30, or about $750/mt.

Tonnage from a previously reported sale of 200,000 mt of DAP from OCP continues to flow in. The price in that sale was reported at $745/mt CFR. In the past week, however, sources reported that 35,000 mt of Russian DAP was sold at a $20/mt discount. October deliveries are being estimated at 1.5 million mt. November arrivals should bring in another 300,000 mt.

Brazil:

The price for MAP in Brazil slipped to $570-$640/mt CFR. The $60/mt drop on the low end was attributed to high inventories, with little interest in buying.

The Rondonopolis MAP price shifted slightly, to $750-$770/mt FOB ex-warehouse. The same election-related disruptions that affected transportation throughout the country also impacted buyers and sellers. Amid high inventories and limited demand, sellers were fighting an uphill battle trying to raise prices.

October imports of MAP were reported at 260,000 mt, down from the 574,000 mt imported during October 2021. January-October 2022 imports were pegged at 3.7 million mt, down about 13% from the 4.2 million mt imported during the same period in 2021.

TSP

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

US Gulf:

Players reported TSP barge values slipping to $640-$650/st FOB NOLA, below the previous $660-$670/st FOB range. Some expected tons to trade as low as $625/st FOB in the next round of business.

Eastern Cornbelt:

The TSP market reportedly firmed from $750/st up to $780/st FOB Cincinnati during the week, with the river issues and delayed barge shipments cited for the increase.

Western Cornbelt:

The TSP market remained at $750-$760/st FOB in the Western Cornbelt.

South Central:

TSP warehouse pricing in the South Central region remained at $750-$760/st FOB, with the low at Memphis and the high at Little Rock, Ark.

Phosphoric Acid

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

Eastern Cornbelt:

Phos acid postings in the Eastern Cornbelt were unchanged at $14.00/unit rail-DEL for November.

Western Cornbelt:

Phos acid prices were steady at $14.00/unit rail-DEL in the region for November tons, unchanged from October.

Southern Plains:

November pricing for phos acid remained at $14.00/unit rail-DEL level in the Southern Plains, unchanged from October.

India:

Contracts governing the price of phosphoric acid delivered to India in the fourth quarter were noted in the $1,100-$1,200/mt P2O5 CFR range, a decline from $1,715/mt P2O5 CFR reported for the second and third quarters.

Ammonium Polyphosphate

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

Eastern Cornbelt:

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

Western Cornbelt:

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

Southern Plains:

The 10-34-0 market was steady at $660-$670/st FOB in the region. The last confirmed 11-37-0 offers in Texas fell in a broad $750-$800/st FOB range, depending on location and supplier.

Muriate of Potash

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

US Gulf:

NOLA potash barge prices moved lower, with sources quoting the market at $525-$545/st FOB, if not lower, down from last week’s $565-$575/st FOB range.

Eastern Cornbelt:

Potash prices continue to fall, with new offers reported at $630-$640/st FOB in the Eastern Cornbelt, down from the prior week’s $655-$680/st FOB range. The Cincinnati market was reported at $635/st FOB, down from the last confirmed $655/st FOB level.

Potash pricing in the Great Lakes region slipped to $665/st FOB Toledo for November-December tons, down $10/st from last week.

Western Cornbelt:

Potash pricing fell to $630-$640/st FOB in the Western Cornbelt in early November, with the low at St. Louis.

Southern Plains:

Potash warehouse pricing continued to fall in the region. New offers in the Southern Plains were reported at $620-$630/st FOB in early November, down from recent levels in the $650-$660/st FOB range, with the low confirmed at Catoosa/Inola and the high at Houston.

The last official potash postings from Intrepid FOB Carlsbad, N.M., remained at $855/st for 60% white granular and $875/st FOB for 62% white standard.

South Central:

Potash pricing slipped to $640-$670/st FOB in the South Central region, down significantly from the previous $675-$700/st FOB range, with the low confirmed by Kentucky sources out of Ohio River terminals and the high in Arkansas. The Memphis potash market was pegged at $660-$665/st FOB, down $25/st from last report.

Southeast:

Potash offers in the Southeast were confirmed at $640-$650/st FOB Wilmington, down significantly from the last confirmed $685/st FOB level.

Brazil:

MOP landed prices in Brazil firmed slightly to $570-$630/mt CFR. Even with the tighter range, sources said sellers were willing to experiment with lower prices for large volumes. These deals are reportedly being offered to limited buyers, and are not available to all.

Rondonopolis showed a slight dip at the lower end of the price range, to $720-$750/mt FOB ex-warehouse. As with the other fertilizers and grain sales, the politically inspired demonstrations limited the ability to do much trading during the week.

October 2022 imports of MOP were reported at 649,000 mt, down from the 1.3 million mt imported during October 2021. January-October 2022 imports were reported at 10.3 million mt, up a tick from the 10.2 million mt imported during the same period in 2021.

Sulfur

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

Tampa:

No changes were reported for the US domestic sulfur markets during the week. Continued price firming in a number of key offshore markets led to predictions of reduced domestic availability, as suppliers in the Alberta and US Gulf markets were increasingly incentivized to send as much product internationally as possible.

With Central Florida phosphate production now back online and sellers increasingly focused on international sales, the domestic US market continued to track in a balanced-to-firm state. Tampa fourth-quarter molten sulfur contracts were concluded at $90/lt CFR, down from $352/lt CFR in the third quarter.

Refinery utilization moved higher for the week, according to the Energy Information Administration (EIA). U.S. refiners operated at a combined 90.6% capacity for the week ending Oct. 22, down from the prior week’s 88.9% rate but ahead of both the year-ago 86.3% and the 85.9% five-year average.

Daily crude inputs were also higher, lifting to an average 15.842 million barrels/d for the period, up from 15.436 million barrels/d the week before.

US Gulf:

Rising prices at Brazil were noted driving US Gulf ideas into the $150s/mt FOB, up from $100-$120/mt FOB reported previously.

Brazil:

A purchase tender from CMOC reportedly closed during the week, with awards pegged in the $185-$190/mt CFR range, above prior expectations in the $170s/mt CFR. The Brazil market was previously reported at $139-$158/mt CFR.

Fourth-quarter contracts for delivery into Brazil were quoted at $119-$138/mt CFR.

Vancouver:

With China values reported on an upswing during the week, the price of sulfur exported from Vancouver firmed to $145-$150/mt FOB, sources said, up from last week’s $130-$135/st FOB.

Alberta:

Netbacks on sulfur loading from Alberta were indicated in the (-)25-$80/mt FOB range, up from (-)25-$65/mt FOB in the prior report. Solid material trading through the Vancouver export market set the high end of the range, while contract tons sold into the US market established the lows.

West Coast:

West Coast solid sulfur prices followed Vancouver up to $145-$150/mt FOB, above the $130-$135/mt FOB range in the prior report.

Sources reported fourth-quarter contracts on molten sulfur loading from West Coast locations at $75-$79/lt FOB, below $370-$385/lt FOB in the prior period.

China:

Sources described recent China sulfur trading in the $180-$185/mt CFR range. The market was previously reported at $170-$175/mt CFR, a $10/mt change.

ADNOC:

No changes were noted in the posted price of Abu Dhabi National Oil Co. (ADNOC) prills during the week, leaving offers at a reported $103/mt FOB Ruwais. Firmer values were expected in the company’s November posting, which are expected soon.

Qatar:

Muntajat was heard to set November posted pricing at $149/mt FOB Ras Laffan. The Qatar price was previously heard at $104/mt, a $45/mt change.