All posts by mickeybarb@charter.net

Russian Fertilizer Production Falls 14.4% in September, Rosstat Reports

News, News Briefs, Russia

Russian mineral fertilizer production fell by 14.4% year-over-year in September, to 1.7 million mt of active ingredient, Interfax reported on Oct. 26, citing the Russian Federal State Statistics Service (Rosstat). Production was down 6.5% compared with August.

Potash production fell 45.7% year-over-year and 18.6% compared with August, to 0.5 million mt.

Phosphate fertilizer production increased by 2.5% to 0.3 million mt year-over-year, but fell 7% compared with August.

Nitrogen fertilizer production reached 1 million mt in September, according to the report, up 8.8% on the year, and up 0.7% on August output.

Russia produced a total of 17.7 million mt (active ingredient) of fertilizers in the nine months to end-September 2022, 9.9% less than the same prior-year period. Potash production fell by 29% to 5.7 million mt, while phosphate fertilizer production rose 1.2% to 3.3 million mt and nitrogen fertilizers increased 4.2% to 8.8 million mt, according to the report.

Ammonia production fell by 16.9% in the nine-month period compared with a year-earlier, falling to 12.7 million mt.

Grupa Azoty’s Kędzierzyn Unit Resumes Fertilizer Production

News, News Briefs, Nitrogen, Poland

Grupa Azoty Kędzierzyn, a subsidiary of Polish fertilizer and chemicals group Grupa Azoty SA, relaunched fertilizer production at full capacity starting Oct. 21, according to a company filing.

Grupa Azoty restarted production at its nitrogen fertilizer, caprolactam, and polyamide 6 units in Tarnów on Oct. 12 in response to a change in market conditions. Another of the group’s units, Azoty Puławy, also on Oct. 12, increased capacity utilization and started up the Agro segment’s process units used to make nitrogen fertilizers (GM Oct. 14, p. 28).

Grupa Azoty’s units had been temporarily shut down since Aug. 23 due to the record high natural gas prices (GM Aug. 26, p. 1).

Puławy late on Oct. 27 said it would relaunch the production of melamine at one-third of the maximum production capacity of 270 mt/d, and also production of caprolactam, the company said in a filing.

Puławy halted melamine production on Aug. 11 due to soaring gas prices and lower demand.

Poland Mulls Compensating Nitrogen Fertilizer Producers for Losses

News, News Briefs, Nitrogen, Poland

Poland is leaning toward a decision to compensate nitrogen fertilizer producers for losses they would incur while offering their products to the country’s farmers at “stable” prices, the PAP newswire reported, citing Agriculture Minister Henryk Kowalczyk, speaking in a news briefing.

Nitrogen fertilizer producer Grupa Azoty SA and subsidiary Grupa Azoty Puławy last week said they have offered their customers new, much lower prices of nitrogen fertilizers, after resuming nitrogen fertilizer production earlier this month in response to a change in market conditions (GM Oct. 21, p. 31). Another of Azoty’s subsidiaries, Grupa Azoty Kędzierzyn, relaunched fertilizer production at full capacity on Oct. 21 (see separate news story).

Azoty had said the prices of nitrogen fertilizers significantly below the Pln4,000 per mt (approximately $842 at current exchange rates) mark are “what the market expects,” allowing the continuation of economically viable agricultural production.

Poland’s other nitrogen fertilizer producer, Anwil SA, a unit of Poland’s biggest oil refiner, PKN Orlen SA, restarted fertilizer production in late August “despite difficult macroeconomic conditions” in order “to guarantee food security” in the country (GM Sept. 2, p. 1), after temporarily suspending fertilizer production on Aug. 23 due to the unprecedented increase of natural gas prices in Europe (GM Aug. 26, p. 1).

At the time of the production restart, Anwil said the price of its fertilizers once production resumed would reflect the current price of natural gas and market conditions. (see separate news story).

The Polish government in March implemented a Pln3.9 billion program of subsidies for fertilizer purchases by the country’s farmers to protect them against high fertilizer prices (GM March 25, p. 29). In August, the government said it may extend these fertilizer subsidies into 2023.

Commissioning of Poland’s Anwil’s New Nitrogen Fertilizer Plant to Begin End-July 2023

News, News Briefs, Nitrogen, Poland

Polish fertilizers and chemicals company Anwil SA reported that its new nitrogen fertilizer granulation plant is around 92% complete, with completion scheduled for June next year. Commissioning is due to take place at the end of July, the producer said in a statement earlier this month.

The new plant is being built at Anwil’s existing production site in Włocławek, in central Poland, and under the original plan was to have an average production capacity of 1,500 mt/d, depending on the type of fertilizer.

Once commissioned, the new facility will raise Anwil’s production capacity by around 50%, to 1.461 million mt/y from the current 966,000 mt/y, according to the company. Four new products also will be added to the company’s portfolio, namely, ammonium nitrate, ammonium sulfate nitrate, ammonium nitrate with sulfur, and CAN with magnesium.

Completion of the new facility was originally scheduled for mid-2022, but Anwil and the turnkey builder, Milan-based Tecnimont SpA, last December inked a Memorandum of Understanding (MOU) providing for a new deadline (GM Dec. 31, 2021). Under the revised agreement, the completion of the plant had been agreed for the end of 2022 and its start-up in January 2023.

According to an Oct. 7 statement by Anwil, the two parties subsequently agreed to the latest revised completion and commissioning dates, citing disruptions to supply chains and other macroeconomic conditions largely due to the war in Ukraine.

Anwil put the total investment in the new nitrogen fertilizer production facility at around Pln1.7 billion (approximately $358 million at current exchange rates).

ICL Expects $2B EBITDA for Specialties Businesses by 2027

Earnings, Israel, News, Phosphate, Specialty

ICL Group, Tel Aviv, expects its Industrial Products, Phosphates Specialties (part of Phosphates Solutions), and Growing Solutions (formerly Innovative Ag Solutions) businesses to deliver more than $2 billion of EBITDA by 2027, implying an improvement of over 100% on 2021 and a 16% compound annual growth rate.

“ICL delivered in its 2020 Investor Day targets much sooner than expected, and we plan to build on this momentum to achieve global leadership in all three of our specialties businesses,” said ICL President and CEO Raviv Zoller in a statement on ICL’s virtual Investor Day on Oct. 25.

He said the group sees “significant opportunities” ahead, amidst the growing global sustainability challenges, and believes ICL is well positioned to meet these “head on” to achieve its sales growth and margin expansion plans.

Highfield Secures €320.6 M Project Financing for Muga

News, News Briefs, Potash, Spain

Junior ASX-listed miner Highfield Resources Ltd., Navarre, Spain, said on Oct. 24 it has received credit approvals from a syndicate of four international financial institutions for a €320.6 million (approximately $321.3 million at current exchange rates) senior secured project financing package for the construction and development of its 100% owned Muga Potash Project in Spain.

Acting as Mandated Lead Arrangers, the four banks are: BNP Paribas SA, ING Bank NV, Natixis CIB, and Société Générale SA (London Branch).

The parties signed a nonbinding indicative term sheet for the financing facility in late March (GM April 1, p. 30).

The senior facilities will comprise a senior debt facility of €300 million, and a cost overrun debt facility of €20.6 million to be used, if required.

The term of the senior debt facility will be ten years, and the term of the cost overrun debt facility five years. Closing of the financing deal remains subject to customary conditions.

Initial construction work began at the Muga mine project in Navarre, northern Spain, in early July, following the receipt of the construction license (GM July 1, p. 29). A two-phased project, Muga is ultimately targeted to produce 1 million mt/y of potash, as well as salt.

OCP to Set Up Green Water, Energy Subsidiaries

Morocco, News, News Briefs, Phosphate

OCP Group SA is set to establish two new subsidiaries in Morocco, after receiving the green light from the government last week.

The new subsidiaries are tasked with implementing the phosphate group’s decarbonization policy and meeting its non-conventional water needs, as well as providing part of the group’s energy needs, according to a Morocco World News report.

One of these two new subsidiaries, OCP Green Water, is a joint venture company with the objectives to generate non-conventional water at a rate of 85 million cubic meters (cbm) in 2023, and 110 million cbm by 2026, according to the report. The water produced will be used both by industry and local drinking water.

The second new entity, OCP Green Energy, is tasked with producing 30 MW for OCP Green Water in Benguerir by the fourth of 2023. According to the report, it is also tasked with producing 202 MW in Khouribga and Benguerir for the Khouribga and El Kantour phosphate mines, as well as supplying OCP’s downstream phosphates complex at Safi.

As part of its 2022 “Water Program,” OCP announced in March that it will use desalination units to provide the water requirements for its fertilizer production facilities in Jorf Lasfar and Safi.

Ammonia

Ammonia, Black Sea, Eastern Cornbelt, India, Market Watch, Middle East, Northern Plains, Northwestern Europe, Southeast Asia, Tampa, U.S. Gulf, Western Cornbelt

US Gulf/Tampa:

Tampa ammonia for November moved down $25/mt, to $1,150 from October’s $1,175/mt CFR. Sources had been speculating that the price might go down or rollover as more European ammonia plants come back online due to lower natural gas prices.

Eastern Cornbelt:

Fall ammonia application was accelerating in Illinois and Indiana in late October, while an Ohio source said he was expecting “really good movement” to kick into gear in early November. The ammonia market remained at $1,300-$1,400/st FOB for available offers, with the low confirmed at Lima, Ohio, and the high at East Dubuque, Ill.

Western Cornbelt:

With fall movement starting to ramp up in parts of Iowa, ammonia pricing had reportedly firmed to $1,290-$1,320/st FOB for prompt truck tons out of terminals in Iowa and Nebraska, up from $1,250-$1,275/st FOB earlier in October.

Northern Plains:

The latest ammonia offers in the Northern Plains remained at $1,200-$1,250/st FOB and $1,245-$1,300/st DEL for fall tons. “Minnesota has been applying hard the last seven days, but North Dakota is yet to really take off, especially considering we had some pretty widespread rain/snow this week,” said one contact. “There is a lot of optimism in North Dakota now given the recent moisture.”

Black Sea:

The lack of any material moving out of the area leaves the industry with no markers for a price. Sources said the bulk of the ammonia moving in the Black Sea is smaller cargoes going into Turkey.

Sources said Turkish buyers are paying $1,150-$1,180/mt CFR even as demand seems to be dwindling. Reportedly demand for ammonia is slowing down as end users are having to cut back on production due to government export limitations.

With the closure of the ammonia ports in Ukraine due to the Russian invasion, Turkey has moved aggressively since March 2022 to find other sources. Of the 435,000 mt imported during January-August, about 43% of the tons – 188,000 mt – came from sources that have not shipped to Turkey in the past, according to Trade Data Monitor.

For a while, Turkey had turned to Iran for inexpensive ammonia. However, sources now said that relationship is in jeopardy. Political disputes between Turkey and Iran could foreshadow a cutback in ammonia shipments to Turkey.

India:

Ammonia demand in India remains steady. Spot buyers are taking limited tonnage, mostly from non-Arab Gulf sources, and the price has remained steady at $850-$900/mt CFR.

Middle East:

The shutdown of a Ma’aden phosphate plant might also mean a cutback in ammonia production. Sources said the ammonia plant generating product for phosphate production will most likely stop production instead of moving the tons to the open market.

One trader said producers are pushing hard for prices at $1,100/mt FOB and higher. The introduction of excess ammonia into the market could work against their efforts, he noted. Producers have been telling potential buyers they are sold out through October and November. When they offer product at $1,100/mt FOB, buyers demur and look for other sources – and they are usually able to find them.

Sources called the real market at $1,050/mt FOB, but could not point to any recent business to back up that claim. They note the price was achieved a while back in a small spot deal.

Northwest Europe:

Sources said the lack of any new spot business leaves the ammonia price at $1,250/mt CFR. As natural gas prices soften and as ammonia production in the rest of the world remains strong, sources said the price is set for a downward correction.

Buyers are pushing for $1,100/mt CFR and below, but are still not finding any supplier to match that level.

Sources said the window for lower prices could close in January. Russian ammonia is still being offered out of Finland. Soon after the invasion of Ukraine, the Finnish government tried to block the transfer of Russian ammonia and other products on the Finnish rail system for export from a Finnish port. Citing contract obligations through December 2022, the rail system continued to move the ammonia across the country for export.

Come January 2023, however, sources said the contract will expire and the sanctions against transporting Russian ammonia will kick into place. The move will block the transport of about 600,000 mt of ammonia each year. The main buyer, Yara, will have to search for replacement tons. This could put upward pressure on prices from the Caribbean to Southeast Asia.

Southeast Asia:

Demand for ammonia remains weak. Industrial buyers are cutting back on their need for ammonia as demand for finished products lessens. Buyers are asking their suppliers to ease back on how many tons are sent under their existing contracts.

Producers in the area are covering many of the spot needs for local buyer, as well as making deals with end users farther away. Reportedly, OCP/Morocco has reached an agreement with Indonesian suppliers for at least one cargo of ammonia a month. The tonnage is to partially replace the ammonia lost from the lack of Black Sea tons due to the war in Ukraine.

Indonesia exported 1.33 million mt of ammonia during January-August 2022, according to Trade Data Monitor, up marginally from the 1.3 million me exported during the same period in 2021.

The main buyers were South Korea with 402,000 mt, India with 182,000 mt, Taiwan with 151,000 mt, and Japan with 146,000 mt. In addition, Indonesia sent 65,000 mt to Northwest Europe during this period. During the first eight months of 2021, no sales were made to Europe from Indonesia.

August 2022 exports were reported at 141,000 mt, down 24% from the 184,000 mt shipped in August 2021. India with 47,000 mt and South Korea with 45,000 mt accounted for two-thirds of export sales in August 2022.

China has been cutting back on ammonia imports and stepping up its exports.Imports of ammonia into China for January-September 2022 were reported at 195,000 mt by Trade Data Monitor, down 71% from the 660,000 mt imported during the same period in 2021. The main supplier was Indonesia with 110,000 mt.

Third-quarter 2022 imports were also down dramatically, to 50,000 mt from the 164,000 mt imported during July-September 2021.September 2022 imports were reported at 19,000 mt, compared to 65,000 mt purchased in September 2021.

Exports of ammonia from China have picked up in the last half of 2022. Exports for January-September 2022 were reported at 105,000 mt by Trade Data Monitor, compared with 1,800 exported during the same period in 2021.

September 2022 exports were pegged at 58,000 mt against the 120 mt exported during September 2021. India took 19,000 mt, about one-third of the September exports.

Sources said China has more ammonia available for export because industrial production, including fertilizers, is down across the board in China. The excess ammonia is being offered at favorable rates. At first, buyers in Southeast Asia benefited from the sales. By September, however, buyers as far afield as South Africa were able to secure Chinese product.

Urea

Africa, Black Sea, Brazil, China, Eastern Canada, Eastern Cornbelt, India, Indonesia, Market Watch, Middle East, Northeast, Northern Plains, Pakistan, Russia, U.S. Gulf, Urea, Western Cornbelt

US Gulf:

NOLA urea barges were reported in the $540-$570/st FOB range, down from the week-ago $580-$600/st FOB. One source attributed the softness to the river situation. “Who would want a urea barge with nowhere to ship?” he asked. Nitrogen products positioned upriver were reported to be faring much better.

Another player, however, added that river conditions and water levels at some major terminals were starting to improve, though slowly.

Eastern Cornbelt:

Urea terminal prices were reported at $660-$680/st FOB in the Eastern Cornbelt, with the low confirmed at Cincinnati, Ohio. Urea prices were under pressure in the Great Lakes region, with reports of new offers falling to $685/st FOB Michigan warehouses and $680/st FOB Toledo, Ohio, for 4Q shipments.

Western Cornbelt:

Urea pricing slipped again to $650-$670/st FOB in the Western Cornbelt, depending on location, with the low confirmed at St. Louis, Mo., and the high in Iowa.

Northern Plains:

Urea prices remained under pressure in the Northern Plains, with reports of new offers slipping to $685-$730/st DEL in North Dakota, down from recent highs in the $730-$750/st DEL range. The St. Paul, Minn., urea market was pegged at $680-$700/st FOB in late October, with pricing out of North Dakota terminals quoted at $700-$705/st.

Northeast:

The urea market was pegged at $690-$705/st FOB in the Northeast, with the low at Baltimore, Md., and East Liverpool, Ohio, and the upper end reported at Fairless Hills, Pa. Delivered urea was pegged at the $740/st level in Pennsylvania during the week.

Eastern Canada:

The urea market in Eastern Canada was reported at C$1,060-$1,120/mt FOB in late October, depending on location and supplier, down C$30/mt from last report at the low end of the range.

India:

The IPL tender settled with the company awarding 1.528 million mt. This amount reflected 57% of the offered tonnage, which is above the average take of most tenders.The urea will be sourced from a variety of locations.

Company Quantity (mt) Source
OQ Trading 296,000 Oman-Qatar-Malaysia-China
Ameropa 271,000 Oman-Qatar-Bahrain-Malaysia-China
Swiss Singapore 180,000 Middle East-Brunei-Baltic
SABIC 175,000 Saudi Arabia
Samsung 170,000 China-Georgia-Egypt
AgriCommodities 120,000 Middle East-Malaysia-Open
MidGulf 97,500 Oman-China
Aries 47,350 China
MacroSource (Gavilon) 45,000 China
Fertiglobe 45,000 UAE
Fertcom 45,000 Baltic
Koch 37,000 Oman

Sources noted the lack of Indonesian and Vietnamese urea in the mix. Reportedly, at the regional IFA meeting in Singapore just before the tender was called, representatives from Indonesia were assuring traders that they would have up to 250,000 mt of urea available for the tender.

After the tender was called, however, sources said those same representatives claimed a surge in domestic demand made it impossible to supply product. Reportedly, the Vietnamese agents were always hesitant about committing to support offers into the tender, noting that they might be able to get a better price from other customers. In the end, they did hold back.

The earlier estimates that IPL would take close to 2 million mt were based on Vietnam and Indonesia participating in the tender. Without the approximately 350,000 mt estimated from these countries, IPL had to settle for 1.528 million mt.

While the awarded tonnage matches the target quantity set in the tender documents, sources said all this amount will do is keep Indian supplies from falling too far behind expected demand. Reportedly, there were hopes that a larger take could provide enough tonnage to get ahead of demand and allow for a longer wait before the next tender.

Now, said sources, the next tender will need to be called close to the Dec. 5 shipping deadline of the IPL tender.

Pakistan:

The second attempt by TCP to purchase 300,000 mt closed on Oct. 26. Three companies offered tons at wildly different prices. Makhdoom International offered product at $520/mt CFR, Pacific International offered at $645/mt CFR, and AgriCommodities offered at $801/mt CFR. The tonnage offered by each company was not released by TCP.

Normally there is a difference of $15-$25/mt between the West Coast India price and the Pakistan price. This would indicate a likely price at $670-$680/mt CFR. None of the three offers were anywhere near this level, noted traders.

Sources said many of international traders stayed away from the tender because of unfavorable payment procedures. They also noted that Pakistan has been late in making some of its payments in the recent wheat tenders it has called. Sources agreed, however, that Pakistan has not defaulted on any of its contracted deals.

Reportedly, TCP has also been talking with Chinese diplomats to arrange for a government-to-government deal for urea, similar to one worked out for DAP some time ago. Traders said such a deal might be better for Pakistan, because it would guarantee urea from China at a time when rumors are circulating of a stricter export regime from Beijing.

Black Sea:

Sources said urea designated as coming from the Black Sea in the IPL tender is actually Georgian product that will be loaded on the far eastern side of the Black Sea. The only potential for some Russian material is expected to come from the Baltic ports.

Estimates for the price of prilled urea coming out of the Black Sea are now put at $490-$525/mt FOB.

Russia:

September exports of urea are reported at 766,000 mt, according to figures from Russian port authorities. The tonnage is coming out of Baltic ports.

Shipments to Latin America dominate the vessel line-ups with 342,000 mt. Central and Western European buyers are taking 183,000 mt. These orders are thought to have been made to replace the tonnage lost in Europe after production shutdowns due to high natural gas prices.

Indonesia:

Right after Indonesian producers pulled back their tonnage from consideration in the IPL/India tender, claiming a surge in domestic demand, Gresik reportedly sold a cargo to Sri Lanka for a better netback than it would have gotten from IPL.

The Gresik move, and some additional phone calls by international traders, cast doubt on the domestic surge story. Reportedly, Kaltim is getting ready to call a tender to move some of the 200,000 mt it was originally going to allow to be considered for IPL.

While a tender could come as soon as this weekend, traders said Kaltim might also be looking to hold off until the next Indian tender is called, which could be in the first half of December. The determining factor will be how many tons are left in the export quotas. If the number is sufficiently high, said one trader, an auction might even be held in January.

Urea exports from Indonesia for January-August were reported at 1.3 million mt by Trade Data Monitor, down 18% from the 1.5 million mt exported during the same period in 2021. The main buyers were Australia with 335,000 mt, India with 280,000 mt, and the Philippines with 123,000 mt.

August 2022 exports were reported at 223,000 mt, up 35% from the 166,000 mt exported during August 2021.

Middle East:

Arab Gulf producers are slated to send about 750,000 mt of urea to India under the IPL tender. Sources said this amount, along with other contracted tons, will keep the order books full through November.

The IPL tender set the price in the mid-$620s/mt FOB. Producers are expected to push the price higher for buyers looking for prompt spot tons.

The netback to Egypt from the IPL tender was pegged at $610-$620/mt FOB. Almost immediately after the IPL awards were issued, sources were reporting efforts to move the price up quickly. One trader said $650/mt FOB could be done soon.

A November shipment of 10,000 mt to Europe closed at $625/mt FOB late in the week. Additional deals at ever higher prices are expected. European buyers are looking to import urea because many of the European plants are closed due to high production costs.

China:

Chinese producers are expected to supply 300,000 mt of urea to IPL from its tender. The price remains in the upper-$620s/mt FOB based on the IPL tender results.

Rumors are circulating that the Chinese government will ban all fertilizer shipments except ammonium sulfate in 2023. This has led some traders to move aggressively to ensure that their urea cargoes, already cleared for shipment in December, are loaded and gone before the end of the year. One trader said he will not be discussing any January orders until the situation is made clear.

Exports of urea for January-September 2022 were reported at 1.6 million mt by Trade Data Monitor, down 61% from the 4 million mt exported during the same period in 2021. The main buyers were India with 529,000 mt, South Korea with 301,000 mt, and Pakistan with 255,000 mt.

Third-quarter sales were reported at 849,000 mt, about half of the 1.6 million mt exported during the July-September 2021 period. September 2022 exports were down dramatically, to 347,000 mt from the September 2021 exports of 1.1 million mt. India accounted for 57% of the purchases with 197,000 mt, followed by Pakistan with 51,000 mt for 15% of the exports.

Ethiopia:

The Ethiopian Agricultural Business Corp. (EABC) is trying to cut a direct deal with Chinese producers for 500,000 mt of urea.

The EABC closed a tender for 930,000 mt the end of September for shipment through June 2023. Potential delivery issues and questions about financing led to limited participation in the tender. This lack of strong participation led EABC to go directly to major producers in China to secure the tonnage they need.

The export controls currently in place in China could make this deal difficult to pull off. Sources noted that if the rumors of a ban on exports in 2023 are true, the deal would be impossible.

Brazil:

Urea prices in Brazil keep softening, with the landed price now at $630-$640/mt CFR. Reports are also circulating that limited tonnage from sanctioned countries such as Venezuela and Iran are being offered at $610/mt CFR.

Buyers are looking to take advantage of the softening market and the presence of cheaper material. Reportedly, bids are now starting at $600/mt CFR, with expectations that in the near future the price will drop to sub-$600/mt CFR levels.

Some hesitation in buying is not only related to the strict needs of the farmers. Sources said both sides are watching the results of the Oct. 30 presidential election as closely as they are the grain futures markets.

Rondonopolis urea pricing is reported down to $735-$790/mt FOB ex-warehouse. Sources said once the elections are over, the market will react to the planting expectations instead of the political debates and possible policy fluctuations.

UAN

Eastern Canada, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, U.S. Gulf, UAN, Western Cornbelt

US Gulf:

NOLA barge prices continued to be called $550-$555/st ($17.19-$17.34/unit) FOB.

Eastern Cornbelt:

UAN-32 pricing was reported at $590-$620/st ($18.44-$19.38/unit) FOB in the Eastern Cornbelt, depending on location and availability, with rail-DEL tons steady in the $625-$635/st ($19.53-$19.84/unit) range in the region. The last UAN-28 offers were quoted at $530/st ($18.93/unit) FOB Cincinnati.

The UAN-28 market in the Great Lakes region was pegged at $550-$565/st ($19.64-$20.18/unit) FOB, with the high confirmed out of Michigan warehouses for January-March tons. Sources reported no prompt inventory available in Michigan in late October.

Western Cornbelt:

UAN-32 in the Western Cornbelt was steady at $585-$610/st ($18.28-$19.06/unit) FOB for limited offers, with the low confirmed at Port Neal, Iowa, and the high at Muscatine, Iowa. In the Southern Plains, the latest offers were reported at $555/st ($17.34/unit) FOB Woodward, Okla., and $560/st ($17.50/unit) FOB Verdigris, Okla.

Northern Plains:

The latest UAN-32 offers were quoted at $610/st ($19.06/unit) FOB Winona, Minn., with no current offers reported at Pine Bend, Minn. UAN-28 in North Dakota was pegged at $550-$555/st ($19.64-$19.82/unit) FOB or DEL in late October.

Northeast:

UAN-32 pricing in the Northeast had reportedly inched up to $590-$600/st ($18.44-$18.75/unit) FOB Baltimore, Md., above the previous $575-$580/st ($17.97-$18.13/unit) FOB range. The market out of terminals in upstate New York remained at the $640/st ($20.00/unit) FOB level in late October.

Eastern Canada:

The UAN-28 market strengthened to C$875-$935/mt ($31.25-$33.39/unit) FOB in Eastern Canada, up a full C$85/mt at the low end of the range. UAN-32 offers were confirmed at the C$1,000/mt (C$31.25/unit) FOB level on a spot basis in Ontario.