All posts by mickeybarb@charter.net

Iderdrola, Trammo Ink Green Ammonia Deal

Green Ammonia, News, News Briefs, Spain

Spanish energy company Iberdrola has signed a framework agreement with Trammo for the purchase and sale of up to 100,000 mt/y of green ammonia beginning in 2026. The contract will enable Iberdrola to construct the first green ammonia plant in southern Europe at a projected investment of €750 million, the company announced on June 9.

“When you bring together one of the world’s largest renewable energy developers and the world’s largest seaborne trader of anhydrous ammonia, innovative projects like this can quickly become viable,” said Millán García-Tola, Iberdrola’s Global Head of Green Hydrogen.

Iberdrola is currently developing green ammonia and methanol plants in Europe, the US, Australia, and other markets. Iberdrola and Spanish fertilizer and chemicals producer Fertiberia Group SA inked an agreement in 2020 to construct a plant to produce green hydrogen at Puertollano in Spain’s Ciudad Rea province (GM July 31, 2020). The two companies then extended their partnership to build three additional green hydrogen projects between 2023 and 2027 (GM Oct. 30, 2020).

“For the past year, we have been operating Europe’s largest green hydrogen plant, which gives us the experience and understanding of the processes and technology to scale-up quickly to these larger projects,” García-Tola added.

Iberdrola said the construction of the new plant will generate up to 3,500 jobs, with 50 more jobs created for the facility’s operation and maintenance. The plant’s green ammonia production will be purchased and sold by Trammo. The plant will be supported by the construction of 500 MW of new renewable energy and is planned to kickstart the European green hydrogen corridor, which comprises more than 60 projects in eight countries.

“Reducing industrial emissions with the supply of green ammonia presents opportunities in the coming years and Iberdrola wants to be at the center of this market, delivering real projects to develop a more sustainable production chain and achieve decarbonization goals,” said García-Tola. “We are already in talks with Trammo to look at similar projects in other markets.”

Uralchem, Uralkali to Ship More Ferts to Africa

Africa, News, News Briefs

Uralchem and Uralkali plan to ship a further 80,000-90,000 mt of fertilizers currently stuck in European Union (EU) port warehouses to African countries in the near future, according to a Tass report, citing Uralchem CEO Dmitry Konyaev. He made the comments in an interview aired by Russia’s Rossiya-24 television news channel.

The tons will be shipped as “humanitarian assistance” and free of charge. The two companies have already shipped 77,000-78,000 mt of fertilizers, most of which were “blocked” in European ports as a result of EU sanctions against Russia, according to Konyaev.

Uralchem and Uralkali secured an agreement last November to supply Africa with humanitarian shipments of fertilizers stranded in warehouses in Belgium, The Netherlands, and Estonia, among others (GM Nov. 11, 2022).

The first vessel under the November agreement was chartered by the United Nations World Food Program (WFP). The consignment comprised around 20,000 mt of NPK 27-6-6-2 and was loaded in the Belgian port of Antwerp and destined for Malawi (GM Feb. 3, p. 29), where it was arrived in early March.

The second consignment under the deal, comprising some 34,000 mt of fertilizers, was loaded in the Latvian port of Riga in late April and bound for Kenya, according to Uralchem.

Ukraine Accuses Russia of Mining Crimean Plant

News, News Briefs, Russia, Ukraine

Ukraine’s Intelligence department is accusing Russia of planting mines at the Crimean Titan plant, Eastern Europe’s largest titanium dioxide plant, according to a Business Insider report. The department claims it observed Russian forces mining and evacuating the facility, which is located in Armyansk in northern Crimea. Russia annexed Crimea in 2014.

“Vast amounts” of ammonia are said to be stored at the facility for its refrigeration equipment. Should an explosion occur at the Titan plant, it would send some 200 mt of ammonia into the atmosphere, the department warned. According to a report by the Kyiv Post, other chemicals stored at the site include sulfuric acid, chlorine, and reagents.

Ukraine intelligence officials claim Russian forces started mining the Titan facility following the collapse of the Kakhovka Dam in southern Ukraine on June 6, which flooded neighboring towns and villages and is threatening the water supply to Crimea. Both Kyiv and Moscow have blamed each other for the dam breach.

Due to the disrupted water supply to the Armyansk region, the Titan plant can no longer operate even at minimum capacity, the Ukraine Intelligence department said. There were reports late this week that Russia is preparing to evacuate residents of Armyansk.

Located on the Isthmus of Perekop, which connects the Crimean Peninsula to mainland Ukraine, Armyansk and the adjacent rail switching station city Dzhankoi are a natural bottleneck to travel in or out of the peninsula.

Kalium Lakes Improves SOP Output

Australia, News, News Briefs, Specialty, Sulfate of Potash

Australian sulfate of potash (SOP) junior Kalium Lakes Ltd. reported this week that it had achieved its best production to date at its Beyondie SOP project located 160 km southeast of Newman, in Western Australia.

In an operational and corporate update on June 14, the company said Beyondie produced a combined total of some 2,079 mt in April and May, exceeding the prior three months by 16%.

But Kalium Lakes continues to be beset by financial troubles, the company said, and its shares will remain in suspension until “it has a clear pathway forward for shareholders, lenders, and other stakeholders.”

Following discussions with lenders KfW IPEX Bank GmbH and the Northern Australia Infrastructure Facility (NAIF), Kalium Lakes has been granted access to the remaining A$10 million (approximately US$6.83 million at current exchange rates) of a A$20 million liquidity.

An initial A$5 million will be provided shortly, with the remaining A$5 million to be provided subject to the progress of a strategic process to reposition the SOP junior and its capital structure. NAIF and KfW will also continue to assess Beyondie’s ramp-up performance before providing the remaining funds.

In parallel, Kalium Lakes is carrying out a plant performance improvement plan (PPIP) at Beyondie, which focuses on temperature control, conditioning, froth mobility, and aeration in the schoenite and flotation circuits. The company is targeting an SOP production rate of 50,000-60,000 mt in FY2024.

Kalium Lakes expects a material increase in operational costs due to resourcing and inflationary pressures as the ramp-up of Beyondie continues. It said additional long-term funding for the project will be required over the next two years to achieve targeted annual production of 90,000-100,000 mt of SOP.

Beyondie produced its first batch of SOP on Oct. 4, 2021, during the product commissioning process, making Kalium Lakes Australia’s first SOP producer (GM Oct. 8, 2021). All of the SOP fertilizer currently used in Australia is imported.

Australian Potash Puts SOP Project on Ice

Australia, News, News Briefs, Specialty, Sulfate of Potash

Junior sulfate of potash (SOP) producer Australian Potash Ltd. (APC) is putting its Lake Wells SOP project in Western Australia on ice to preserve its inherent value as it weighs the next steps for the project, the company reported on June 13.

The announcement comes as APC turns its focus to the upside of critical minerals, recently closing on a rare earths and lithium tenement that it says will grow its footprint in Western Australia’s emerging West Arunta region.

APS previously reported that it is undertaking a strategic review of the Lake Wells SOP project, which included providing several parties with access to due diligence material to enable them to invest in the development.

APC’s latest statement said this process has yet to deliver any executable proposals, and while third-party discussions on potential funding for the project are continuing, there is no indication at this time that a transaction can be concluded in the near term.

The company had been targeting a projected output of some 150,000 mt/y of SOP at Lake Wells (GM May 25, 2021).

OCI Global to Fuel Green Methanol-Powered Ship

Methanol, News, News Briefs, The Netherlands

OCI Global NV announced that it is fuelling the first ever green methanol-powered container vessel in a new partnership with Danish shipping major AP Moller-Maersk.

OCI said it will provide ISCC certified green bio-methanol to power the maiden voyage of Maersk’s first dual-fuelled container ship. The vessel will depart from South Korea this summer, sailing to Northern Europe via the Suez Canal, bunkering at several major ports along the journey.

OCI said it is obtaining the approvals and permits required to commercially bunker methanol in several ports on the ship’s voyage, including the Port of Rotterdam in The Netherlands.

“The journey demonstrates OCI’s unique capacity to supply marine customers with end-to-end green methanol solutions in major global bunkering locations, and further supports green methanol as the leading choice today for decarbonizing the marine sector, which is responsible for 3% of global GHG emissions,” the company said in a June 13 statement.

Incremental methanol demand from the maritime sector is expected to be near 4 million mt/y by the mid-2020s based on current orders for new vessels, OCI reported.

Nano-Yield Partners with India’s Shiram

India, News, News Briefs, U.S.

In a first-of-its kind agreement to license distribution of its liquid nano technology outside of the US, Utah-based Nano-Yield on June 12 reported that it has signed a technology transfer agreement with India’s Shriram Farm Solutions, a unit of DCM Shriram Ltd.

Under the agreement, Shriram will hold a technology transfer, supply, and purchase agreement to use Nano-Yield’s nano liquid technology for its Indian customer base. The initial focus will be on rice and wheat, India’s major field crops, but Nano-Yield said it expects the product to also be used on table grapes, bananas, and other tropical fruits and vegetables.

“We are happy to collaborate with Shriram Farm Solutions as we will transfer our liquid nano-technology to them, which will further be used to enhance the efficiency of Shriram’s products. The products will be available for millions of Indian farmers and would further help improve their productivity,” said Clark Bell, Nano-Yield CEO and Co-Founder. “This is a landmark agreement for us to work with such a large manufacturing presence.”

Nano-Yield’s patented delivery system allows nutrient delivery via nanoliquid™ particles, which the company said enter the plant cell wall via endocytosis for a quicker and more efficient delivery method.

“Nano technology plays a critical role in agriculture,” said Sanjay Chhabra, Executive Director and Business Head at Shriram Farm Solutions. “Our collaboration gives us the opportunity to bring the critical nano-technology to a vast array of agri-inputs, eventually helping in broad-basing nano-tech products for Indian farmers.”

Chhabra said the products will go through extensive trials in India before they are officially launched. “Post-trial, we will jointly develop products for the Indian market,” he said. “Our goal is to work with Nano-Yield to come out with truly differentiated products which will address unique challenges of Indian growers, which in turn will improve farmer income.”

Ammonia

Ammonia, Black Sea, California, Eastern Cornbelt, Market Watch, Middle East, Northwestern Europe, Pacific N.W., Tampa, U.S. Gulf, Western Canada, Western Cornbelt

US Gulf/Tampa:

Expectations continued this week for a lower Tampa ammonia price in July, with some contacts projecting a level in the mid- to upper-$200s/mt CFR. June Tampa prices fell to $340/mt CFR from May’s $380/mt CFR. The launch of summer fill programs fueled a further drop in inland ammonia prices during the week.

Eastern Cornbelt:

Summer fill programs for ammonia were launched during the week. Koch was first out of the gate on June 12 at $365/st FOB Henry, Ill., and $370-$375/st FOB in the rest of Illinois for June-July offers, with a $10/st increase reportedly scheduled for August-September.

CF followed on June 13 at $360/st FOB in Illinois and $365/st FOB in Indiana, while CVR was reportedly referenced at $345/st FOB East Dubuque, Ill., for June-July shipments. Ammonia fill offers in the Lima, Ohio, market were pegged in the $360-$365/st FOB range.

Those levels were down roughly 13-14% from the last confirmed prompt ammonia offers in the Eastern Cornbelt, which fell in the $410-$425/st FOB range in early June.

Western Cornbelt:

Ammonia fill prices were launched during the week at $340-$350/st FOB in the Western Cornbelt, $325/st FOB in Kansas, $300/st FOB Verdigris, Okla., and $290/st FOB Enid, Okla., with reports of delivered fill pricing in the $350-$380/st range, depending on location and supplier.

Ammonia fill in the Northern Plains was confirmed at the $350/st DEL level in Minnesota at midweek.

California:

Ammonia prices were lower in California following a summer reset on June 16, with new postings at $580/st DEL, down significantly from the last $890/st DEL reference price. Aqua ammonia dropped as well, to $159/st FOB Stockton and $169/st FOB Sycamore from the previous $237/st FOB and $247/st FOB postings, respectively.

Pacific Northwest:

The region was awaiting a summer reset on ammonia, but new prices had not yet been announced by press time. The last prompt business was pegged at the $695/st FOB or DEL level in the Pacific Northwest, with aqua ammonia referenced at the $180/st FOB mark.

Western Canada:

Delivered June pricing for limited ammonia offers in Western Canada was pegged at the C$900/mt level at mid-month, down from the last confirmed C$960-$1,040/mt DEL range. Sources said fill offers are expected in the C$600s/mt DEL range when programs are launched.

Black Sea:     

The region’s primary business continues to stem from buying interest in Turkey. Source reported offers into Turkey now coming in the low-$290s/mt CFR, mostly for Iranian and Baltic Russian material.

Middle East: 

Sources noted growing reserves and a lack of new spot deals in the Arab Gulf. Prices remained at an estimated $200-$210/mt FOB.

The potential reinstatement of the 5.5% tariff on ammonia imported into the EU could leave some Arab Gulf producers looking for other buyers. Unfortunately for them, said one source, most of the buyers located east of the Suez Canal are already oversupplied. Buyers in Asia are said to be willing to purchase more product, but only at ever-lower prices.

Northwest Europe:      

There were no new spot deals to shift official prices. However, sources said discussions are now focusing on the $350s/mt CFR and should soon end up in that area.

A tariff of 5.5% on ammonia imported into the EU was slated to automatically be reimposed on June 17. The tariff was suspended in December 2022, a reaction to high gas prices that made securing European ammonia too expensive.

The EU is looking at renewing the suspension even though gas prices have come off since the beginning of the year. In a June 15 statement, an EU spokesperson said the recent rebound in gas prices has the EU considering extending the suspension.

Urea

Black Sea, Brazil, California, China, Eastern Cornbelt, India, Market Watch, Middle East, Pacific N.W., Southeast Asia, U.S. Gulf, Urea, Western Canada, Western Cornbelt

US Gulf:

NOLA urea prices remained under pressure, though prompt, loaded barges continued to garner a premium. Prompt NOLA barges firmed to a high of $320/st FOB on June 15, up from $285-$295/st FOB earlier in the week. Full June business was reported at the $280/st FOB mark, with July barges reported in the $245-$270/st FOB range and August at $265-$270/st FOB.

Eastern Cornbelt:

Urea was pegged at $460-$480/st FOB in the Eastern Cornbelt, with the high reported at Cincinnati, Ohio. Pricing in the Northeast reportedly dropped to a low of $440/st FOB Fairless Hills, Pa., for June offers.

Western Cornbelt:

Urea remained $460-$480/st FOB in the Western Cornbelt, depending on location, with the St. Louis, Mo., market steady at $460-$465/st FOB. In the Southern Plains, the Catoosa/Inola, Okla., market continued to be quoted firmly at the $490/st FOB level for limited supply.

California:

Urea was steady at $560-$600/st FOB in California, with the low at Stockton. No current rail-DEL urea prices were confirmed in mid-June.

Pacific Northwest:

Urea pricing dropped to $475-$480/st FOB in the Pacific Northwest, down from the prior $520-$525/st FOB range, with the low confirmed at Rivergate, Ore. Rail-DEL urea pricing dropped even more, to a reported $467-$520/st range, depending on location, down from the previous $535-$625/st DEL. The upper end of the DEL market was reported in Montana.

Western Canada:

Urea pricing in Western Canada dropped to C$530-$535/mt FOB and C$545-$700/mt DEL, depending on location and time of shipment, down significantly from the prior C$670-$730/mt FOB and C$720-$760/mt DEL ranges.

Black Sea:

The urea price range widened. The lower end of the range dropped $10/mt to $240/mt FOB, while the upper end took a slight move upward to $265/mt FOB.

India:

The Rashtriya Chemicals and Fertilizers Ltd. (RCF) tender left many in the industry disappointed. A number of traders had predicted prices landing around $275/mt CFR. Instead, the low price for East Coast deliveries came in at $284.90/mt CFR, and $279.70/mt CFR for the West Coast. The prices are about $50/mt lower than India’s previous urea tender, held by Indian Potash Ltd. (IPL) in March.

Samsung set the low price for the West Coast with 45,000 mt and Sun International with 50,000 mt for the East Coast. As soon as RCF released the tender prices earlier in the week, RCF countered the other trading houses at these levels. As Green Markets went to press, RCF has already accepted 600,000 mt. Of that tonnage, about 490,000 mt is for West Coast ports. Final awards are expected to be issued early next week.

Estimated Tonnage East Coast
Company Quantity (mt)
Fertiglobe 45,000
Sun International 50,000
Estimated Tonnage West Coast
Company Quantity (mt)
OQ Trading 260,000
Swiss Singapore 145,000
Samsung 45,000
Agricommodities 40,000

The total number of tons offered was 2,565,000 mt. East Coast offers were 1.1 million mt and West Coast offers were 1.4 million mt. There was only one offer on an FOB basis, for 90,000 mt from Fertiglobe, offered at $280/mt FOB. RCF countered the Fertiglobe offer at $265.45/mt FOB.

East Coast
Offering Company Quantity (‘000 mt) US$/MT CFR Discharge Port
Sun 50 284.90 Vizag-Kakinada-Paradip
Samsung 90 285.00 Kakinada
AgriCommodities 40 296.10 Krishnapatnam-Kakinada
Fertiglobe 90 298.00 Kakinada-Gangavaram-Vizag
Dreymoor 45 298.49 Kakinada
OQ 50 298.50 ECI
Continental 100 298.75 ECI
Aries 50 299.97 Kakinada-Krishnapatnam-Karaikal-Gangavaram
Midgulf 150 303.00 Kakinada
Swiss Singapore 100 303.50 ECI
Indagro 100 304.75 ECI
Ameropa 47.5 308.45 Kakinada
Fertcom 45 310.00 ECI
Koch 50 316.15 Krishnapatnam-Kakinada
MacroSource 45 321.00 Karaikal-Krishnapatnam-Kakinada- Gangavaram
Agrifields 50 328.00 Vizag
Total ECI 1,102,500
       
West Coast
Offering Company Quantity (‘000 mt) US$/MT CFR Discharge Port
Samsung 45 279.70 Kandla
AgriCommodities 40 280.20 Mundra
OQ 310 280.50 WCI
Continental 150 281.75 WCI
Sun 50 286.90 Mundra-Kandla
Fertiglobe 45 291.00 Mundra-Kandla
Swiss Singapore 150 293.80 WCI
EuroChem 50 295.00 Mundra
Dreymoor 45 296.49 Pipavav
Midgulf 150 298.00 Mundra-Adani Tuna
Fertcom 45 305.00 WCI
Aries 50 305.79 Mundra-Pipavav-Adani Tuna-Rozy
Medallion 50 306.50 Mundra-Kandla-Pipavav-Tuna
Ameropa 47.5 308.45 Mundra
Koch 50 312.00 Mundra-Kandla
Keytrade 50 312.00 Kandla
MacroSource 45 323.00 Mundra-Kandla
Total WCI 1,372,500
       
FOB      
Offering Company Quantity (‘000 mt) US$/mt FOB
Fertiglobe 90 280.00

The East Coast price shows a netback to China of $270/mt FOB. This is significantly lower than what Chinese producers can get from regional buyers, and right at China’s reported break-even production cost.

The West Coast price has an estimated netback to the Arab Gulf at $265-$270/mt FOB, about $10/mt below previously-done business from the area. RCF’s $265/mt FOB counterbid to Fertiglobe aligns with general pricing expectations from that region.

Soon after the prices were released, sources reported rumors that RCF would try to take more than the 800,000 mt indicated in the tender documents. However, sources said the short shipping period, with a deadline of July 17, will limit the ability to load vessels in time. At the same time, Chinese export warehouses were said to have only 86,000 mt available. Traders were unsure whether the export clearing process could be concluded in time to allow for multiple cargoes to ship from China within that window.

Even with the complications of ensuring timely shipments from China, sources reported that RCF was in direct talks with Chinese producers for at least three cargoes. How these sales will be handled is up in the air. Later in the week some talks indicated the only tonnage expected out of Chinese ports will be a re-exported Middle East Cargo.

Sources expected that Arab Gulf and Russian material – shipped mostly from the Baltic – will dominate the awards issued by RCF. There is more than enough tonnage reportedly on hand in the Arab Gulf to cover RCF’s needs. In addition, there was also said to be enough material available from the Baltic Sea to fill out demand.

As the week closed, some traders expressed concern that RCF might not be able to issue awards for the full 800,000 mt. Traders reported difficulties in nailing down Chinese product due to pricing, which has has all eyes looking to the Arab Gulf and Russia.

Southeast Asia:     

Pupuk, of Indonesia, remains out of the international market to focus on the domestic market. Sources said this absence is expected to continue through at least mid-July. The lack of new offshore deals has essentially made the last-done price of $330-$335/mt FOB for Indonesian granular urea irrelevant to the current market.

Malaysian production has resumed after a brief unscheduled shutdown in May. Petronas is focusing on covering its contracts, leaving nothing for the spot market.

Brunei offered a small cargo of granular for sale in the low-$330s/mt FOB. No takers were reported.

Middle East: 

The estimated netback from the RCF/India tender was put at $265-$270/mt FOB, with the lower end of the range representing limited or no margins for traders. This is about $10/mt below the last public business out of the area. Sources expect to see a great deal of Arab Gulf urea used to cover awards in the tender.

Fertiglobe offered 90,000 mt at $280/mt FOB into the tender. The offer appeared to be an effort to hold on to the $280/mt FOB mark in a declining market. The RCF counterbid, reported at $265.45/mt FOB by one source, more accurately reflects the current Arab Gulf price.

After the Indian tender closed, traders looking to cover shorts out of Egypt made their moves. The end of the week showed a steady rise in the Egyptian pricing. MOPCO, Alexfert, and Helwan all sold several small lots starting at $290/mt FOB and moving to $303/mt FOB. Abu Qir stepped up the process, selling several cargos to traders at $305-$310/mt FOB as the week closed. All told, Egyptian producers sold about 110,000 mt this week in small lots of 3,000-10,000 mt.

China:   

The estimated netback to China from the RCF/India tender was put at $270/mt FOB. Unfortunately for anyone hoping to use Chinese urea to cover an award into that tender, Chinese producers were reported successfully selling cargoes at higher prices to regional buyers. In addition, sources put the break-even price for urea production for many producers around the $270/mt FOB mark.

At the beginning of the week, sources reported deals to South Korea and other Southeast Asian buyers at $280-$285/mt FOB for granular urea. Traders reported that other deals had taken place at higher prices, but did not provide details. Prilled urea is generally seen to be selling at $300-$305/mt FOB, without much haggling over the price.

By the week’s end, however, sources said a tender for 3,000 mt of granular urea out of South Korea showed an estimated netback to China just above $270/mt FOB. Details of the deal were not clear as Green Markets went to press.

The initial higher price producers could get from smaller regional sales compared to the Indian tender led some sources to speculate there will not be any Chinese product included in the Indian awards. Some also point to the limited tonnage at the export warehouses. Sources said there are reports of only 86,000 mt, as opposed to the average of 286,000 mt being prepped for export.

Even if traders are not able to secure tons from China for the tender, rumors are circulating that RCF is in direct talks with Chinese producers. These rumors included reports that at least three cargoes could be made available for India by the July 17 shipping deadline.

Brazil:   

Imports were noted softening to $275-$280/mt CFR. Bidding was reported as low as the $260s/mt CFR.

While aggressive buyers continue to try pushing the landed price down, sources noted the potential for higher prices out of North Africa due to rising natural gas prices to producers. They also pointed to limited urea availability out of China, at least until international prices rebound to much higher levels.

Not helping the sellers, however, were reports that the supply of urea on hand is well above that of previous years. The country reportedly has 1.5 million mt more product on hand than at the same time in 2022.

The inland market at Rondonopolis showed a minor downward tick, to $420-$425/mt FOB ex-warehouse. Demand remains focused on the most aggressive offers, which represent deliveries in the last quarter of the year, rather than any prompt orders. The recent drop in corn prices has led farmers to hold off on long-term buying. Sources said the main push for more tons may not come until after the completion of soybean planting in the third quarter.

UAN

California, Eastern Cornbelt, Market Watch, Pacific N.W., U.S. Gulf, UAN, Western Canada, Western Cornbelt

US Gulf:

NOLA UAN barges remained at $210-$230/st ($6.56-$7.19/unit) FOB in a thinly-traded market. While some sources said July/3Q business might be doable at $190/st FOB, others suggested that this was speculation only.

“I am not sure why anyone would buy that today ahead of summer fill that we will see within weeks, and could possibly be below that,” commented one industry contact.

Eastern Cornbelt:

UAN prices slipped to $255-$275/st ($7.97-$8.59/unit) FOB in the Eastern Cornbelt, with the low confirmed for a brokered sale at Cincinnati. The Mount Vernon, Ind., market remained at the $260/st ($8.13/unit) FOB level, while the last UAN-28 offers were reported at $235-$240/st ($8.39-$8.57/unit) FOB Cincinnati.

The latest UAN-32 pricing in the Northeast was pegged at the $300/st ($9.38/unit) level FOB Fairless Hills for June tons.

Western Cornbelt:

UAN-32 was pegged at $255-$270/st ($7.97-$8.44/unit) FOB in the Western Cornbelt, with the low reported at Muscatine, Iowa. After selling out late in the previous week, new St. Louis UAN-32 offers were quoted at the $260/st ($8.13/unit) FOB level at midweek.

California:

UAN-32 prices in California slid to $335-$350/st ($10.47-$10.94/unit) FOB Stockton for the latest prompt offers, down from the last-confirmed $375-$400/st ($11.72-$12.50/unit) FOB range. Rail-DEL offers in Northern California were pegged in the low-$300s/st on a spot basis.

Pacific Northwest:

The UAN-32 market slipped to $320-$330/st ($10.00-$10.31/unit) FOB terminals in the Pacific Northwest, down from $350-$375/st ($10.94-$11.72/unit) FOB at last report. Rail-DEL pricing in the region was also down sharply, to $318-$327/st ($9.94-$10.22/unit) from the previous $365-$388/st ($11.41-$12.13/unit) DEL range.

Western Canada:

UAN-28 was pegged at C$445-$455/mt (C$15.89-$16.25/unit) DEL in Western Canada for prompt June offers, with no fill programs reported at mid-month.