All posts by mickeybarb@charter.net

Ammonia

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

US Gulf/Tampa:

Tampa ammonia remained at $1,150/mt CFR for September, up from August’s $1,100/mt CFR. As for the October price, on the one hand, players will continue to watch the European gas situation and the ammonia outages it has caused. On the other, however, sources note that there has been no keen run-up in prices to European buyers, and product does appear to be available.

US Imports:

Ammonia imports were down 0.7% to kick off the 2022-2023 fertilizer year, according to data released by the US Census Bureau. July’s ammonia import total tracked at 193,611 st compared to the prior-year 194,887 st.

US Exports:

Ammonia exports for July firmed 110.9% year-over-year, to 144,034 st from 68,280 st.

Eastern Cornbelt:

Ammonia prices remained at $1,250-$1,300/st FOB in the Eastern Cornbelt, depending on location and supplier. While CF was referenced at $1,300/st FOB terminals in Illinois and Indiana, Koch postings reportedly ranged from $1,250-$1,280/st FOB in the region. Nutrien raised its Lima, Ohio, price to $1,300/st FOB for prompt or prepay, up from the previous $1,250/st FOB level.

Western Cornbelt:

The ammonia market was steady at $1,200-$1,225/st FOB in the Western Cornbelt in mid-September, with the low confirmed in Nebraska and Iowa and the high at Palmyra, Mo.

Northern Plains:

Delivered ammonia prices in the Northern Plains were reported in a broad range at $1,150-$1,275/mt, depending on location, up from $1,050-$1,150/st in late August. Terminal pricing was pegged at $1,100-$1,200/st FOB for prompt or prepay, with the upper end confirmed at Velva, N.D.

California:

New ammonia postings in California were confirmed at $1,250/st DEL for September tons, up from the previous $1,147/st DEL price. New aqua ammonia postings in the state were quoted at $271-$336/st FOB, depending on location.

Black Sea:

International ammonia trader Trammo Inc. confirmed that it is cooperating in a UN-backed project to reopen the ammonia pipeline from Russia through Ukraine to the port of Odessa. The ammonia reportedly is slated to be supplied by Russian producer Uralchem and sold to Trammo at the Russian-Ukrainian border.

Traders in Europe questioned the deal. One noted that the area the pipeline passes through is under regular bombardment by Russian military forces. And even if the bombing stops, he said the Russians are targeting many of the power facilities needed to keep the pipeline and the port terminal operating.

The idea of working out a deal to move Russian ammonia out of Black Sea facilities was part of a larger plan to allow shipments of Ukrainian wheat and dry-bulk Russian fertilizers. One trader noted that moving dry goods such as grains and urea is much easier than volatile products such as ammonia.

Industry sources also noted that there is no real rush to get more Russian ammonia into the market. Sources said supplies are plentiful from the Arab Gulf and Southeast Asia. Likewise, there also seems to be enough ammonia from the Western Hemisphere, notably Trinidad.

The only place that shows a potential shortage right now, according to sources, is Western Europe. The high cost of natural gas makes producing ammonia in Europe expensive. Product is being imported from Asia, North Africa, and the Americas to fill the ammonia needs of the area, however.

One source pointed to Morocco, a regular buyer of Russian ammonia before the war in Ukraine began. Since the war started in February, OCP in Morocco has shifted its production to use less ammonia and has reached out to suppliers across the globe. Even with the higher transportation costs of bringing ammonia in from Indonesia, sources said Morocco is getting what it needs at an affordable price.

The question several raised is why there are no discussions to persuade the Baltic states to allow Russian ammonia to flow out of their Baltic ports once again. Given the bad relations between Russia and the three Baltic states, however, one trader said he could imagine that such a discussion was a non-starter.

Reportedly, there is about 30,000 mt of ammonia in storage at Yuzhnyy. One trader said the talks might be able to provide safe loading and shipping of those tons.

Industry watchers are also concerned about transparency in the discussed deal. If the ammonia does make it to ports for export, the industry would like to know how much Trammo paid for the product before any deals are made to buy the Russian ammonia.

For now, the lack of any ammonia movement out of the Black Sea means there is nothing to calculate a possible price from the area.

Northwest Europe:

Ammonia prices showed minor fluctuation as imports from the Americas, North Africa, and Asia continue to come in. Sources pegged the ammonia price in Northwest Europe at $1,250-$1,290/mt C&F.

The price does not reflect what ammonia would cost if the market had to depend on solely European-made ammonia. Sources estimate the price to produce one ton of ammonia in Europe is more than $2,000 because of the high cost of natural gas. The lower market price in Northwest Europe is tied more to the cheaper ammonia coming in from the rest of the world.

Sources expect the prices to remain relatively stable through October, with only slight fluctuations. November prices, however, could be different. So far, said traders, no one is talking about November prices or quantities. The tension in Europe over pricing has most buyers and sellers constantly looking at short-term deals.

The operators of the ammonia plants that are still running in Europe are said to be carefully looking at their production costs and market needs. For the bulk of the plants, the more pressing issue is CO2. Many European companies need the CO2 byproduct from ammonia production for their facilities. Reportedly, the ammonia producers are calculating how much they can limit ammonia production while still being able to supply their contracted CO2.

Reportedly, there are discussions within EU offices about some form of subsidy to ensure a regular supply of CO2.

Middle East:

Producers continue to claim they are sold out through October. While some are taking them at their word, others said some spot material could be found if the price was right.

For now, sources put the ammonia price out of the Arab Gulf at a steady $1,075-$1,100/mt FOB, with most of the discussion taking place at the upper end of the range. The price fits in well with the reported price in Northwest Europe.

Producers are facing major pushback from their Southeast Asian customers. The buyers are not only asking the producers to ship the bare minimum required under their contracts, but some are also indicating they may soon be asking for a cargo or two to be deferred. Demand is down in Southeast Asia, as inflation and high interest rates hammer the global economy.

Sources said while no one is officially talking about November deals, a few traders are saying the market for that month is beginning to look better for both demand and production. Prices might shift a bit, according to one source, but nothing major is expected.

Iranian exports for January-August 2022 were reported at 326,000 mt by Trade Data Monitor, down 23% from the 424,000 mt exported during the same period in 2021. India dominated purchases from Iran during the period, taking 284,000 mt, while Taiwan took 23,000 mt and Turkey took 19,000 mt.

August exports were reported at 45,000 mt, down from the 65,000 mt shipped out during August 2021. India took 42,000 mt in August 2022, leaving significantly smaller cargoes for other buyers.

India:

Whenever buyers go looking for spot tons, sources said the first place they call is China. The Southeast Asian and Middle East producers have much higher pricing expectations than their Chinese counterparts.

Sources said the Chinese ammonia is mostly coming from excess tons related to cutbacks in industrial production in China due to a slowing economy and COVID-related cutbacks.

The price remains at $850-$870/mt CFR because of the deals buyers have been able to make with their Chinese partners. Sources said talks currently taking place could move the price closer to $900/mt CFR, but no one has concluded a deal at that level.

Major Indian buyers continue to receive their contracted tons from the Arab Gulf. Sources said the price paid is based on formulas that are far afield from the spot market.

Southeast Asia:

Sources said the Indonesian suppliers are now asking $900-$950/mt FOB for ammonia, which would translate to about $1,000/mt CFR into India. So far, the Indian buyers are passing on this price. The lower end of the range, however, fits nicely with the Northwest Europe ammonia price, providing sellers a ready buyer.

Demand in the area remains soft as area factories reduce their output because of higher inflation and interest rates.Chinese exports in the second half of the year are expected to show a marked increase, especially to India.

South Korean imports for January-August 2022 were reported at 947,000 mt by Trade Data Monitor, a minor drop from the 999,000 mt imported during the same period in 2021. The main suppliers to South Korea so far this year were Indonesia, sending 450,000 mt, and Saudi Arabia, which shipped 387,000 mt to South Korea.

August 2022 imports fell to 101,000 mt, down 25% from the 135,000 mt imported during August 2021. Indonesia dominated the August 2022 supplies with 89,000 mt.

Urea

Africa, Black Sea, Brazil, China, Eastern Cornbelt, India, Indonesia, Market Watch, Middle East, Northeast, Northern Plains, South Korea, U.S. Exports, U.S. Gulf, U.S. Imports, Urea, Western Cornbelt

US Gulf:

NOLA urea prices early in the week were reported in the $640-$650/st range, but product traded as high as $687/st FOB by the end of the week. The week-ago range was $630-$680/st FOB. While the average for the week saw a slight uptick, sources said the news of higher prices in the Indian tender were already baked into NOLA thinking.

US Imports:

July urea imports softened 62.3%, to 176,578 st from 468,526 st in July 2021. Imports loading from Qatar totaled 108,433 st for the month, ahead of Canada’s 36,553 st total. Russia added 28,709 st.

US Exports:

July urea exports were noted at 301,655 st, a 3,154.7% increase from the year-ago 9,268 st.

Eastern Cornbelt:

Urea prices in the Eastern Cornbelt were unchanged at $715-$745/st FOB at mid-month, depending on location. Michigan sources quoted new offers FOB Toledo, Ohio, at $705-$735/st FOB, depending on time of shipment.

Western Cornbelt:

Urea prices were pegged $690-$730/st FOB in the Western Cornbelt, depending on location and timing, with St. Louis, Mo., pricing reported in a broad range $690-$725/st FOB at midweek, up from the prior week’s high of $705/st FOB. The Catoosa/Inola, Okla., urea market was reported at $710-$730/st FOB during the week.

Northern Plains:

Urea prices continued to inch up in the Northern Plains, with new offers quoted at $720/st FOB Carrington, N.D., and $750-$780/st DEL, up from $745-$770/st DEL at last report. The St. Paul, Minn., urea market was pegged at $710-$730/st FOB at midweek.

Northeast:

The latest urea prices in the Northeast were reported at $730/st FOB Fairless Hills, Pa. In the Southern US, new pricing FOB Convent, La., was pegged at $685/st FOB at midweek, up from the previous $670/st level.

India:

RCF released the prices offered in its Sept. 9 urea tender. The lowest prices for East Coast and West Coast deliveries came from OQ Trading at $675.25/mt CFR and $668.15/mt CFR, respectively. The price was $148-$158/mt higher than the previous tender.

Company Quantity Offered Price (US$/mt CFR) Delivery Port
OQ Trading 90,000 675.25 L1 Kakinada-Karaikal
135,000 668.15 L1 Kandla
Sun International 54,000 679.00 Vizag-Kakinada
Aries 95,000 695.17 Krishnapatnam-Vizag-Kakinada-Paradip
Swiss Singapore 90,000 696.10 East Coast Port
200,000 687.00 West Coast Port
Samsung 45,000 699.00 East Coast Port
180,000 719.70 West Coast Port
Fertiglobe 90,000 699.00 Kandla-Mundra
Gavilon 45,000 703.00 East Coast Port
45,000 703.00 West Coast Port
Fertcom 45,000 710.00 Paradip
45,000 690.00 Pipavav
Ameropa   183,500 711.00 Mundra-Pipavav
183,500 711.00 Kakinada-Paradip-Krishnapatnam
Koch 45,000 730.00 Krishnapatnam-Kakinada
45,000 730.00 Mundra-Kandla
Midgulf 100,000 739.00 Gangavaram-Krishnapatnam
100,000 735.00 Mundra-Adani Tuna
Sabic 100,000 750.00 Mundra-Kandla
Wilson 50,000 760.00 Kakinada
Keytrade 38,000 770.00 Kakinada
42,000 720.00 Kandla
Dreymoor 60,000 770.00 Pipavav
AgriCommodities 50,000 850.00 Krishnapatnam
FOB
Company Quantity Offered Price (US$/mt FOB)  
Fertiglobe 90,000 680.00

The price was lower than many had expected, but not so low that RCF was limited to the OQ tons. Still, the buyer was looking to buy 1 million mt of urea in this tender, but was only able to get commitments for 874,000-879,000 mt.

The counterbid from RCF was issued as soon as the initial offers were made public. Acceptances and regrets came almost as fast from the offering trading houses.

Company Quantity Awarded Delivery Port Source
Midgulf 45,000 (50,000) Gangavaram-Krishnapatnam China
Swiss Singapore 45,000 ECI Southeast Asia-Baltic
90,000 WCI
Fertcom 45,000 Paradip Baltic
Aries 95,000 Krishnapatnam-Vizag-Kakinada-Paradip Southeast Asia-China
Sabic 50,000 Mundra-Kandla Saudi Arabia
OQ Trading 90,000 Kakinada-Karaikal Middle East-China
135,000 Kandla
Fertiglobe 45,000 Kandla-Mundra UAE
Sun International 54,000 Vizag-Kakinada China
Samsung 45,000 Kakinada Southeast Asia-UAE-Baltic
135,000 WCI

Sources now expect the Department of Fertilizer to move quickly to authorize purchasing the 874,000-879,000 mt.

The failure to get 1 million mt, said one trader, will mean India is behind in its urea purchase for the rest of the year. Even with the respectable take in this tender, there is a danger that Indian buyers could repeat the series of panic buying that took place two years ago.

For now, sources expect the Department of Fertilizer to hold off authorizing another tender for at least a month.

Sources said the next tender will be more expensive than this one. The country still needs a bit more than 3 million mt to close out its application year. As long as China maintains its export restrictions, major buyers such as India will have to look to the Arab Gulf and Russia for large shipments.

Buying from Russia could soon be easier. Bloomberg reported that the State Bank of India is opening special rupee accounts to handle Russian-related trade. There has long been talk of setting up a larger version of the rupee-ruble exchange program that the two countries have had for some time.

The establishment of the special accounts will help shield traders from any repercussions from Western sanctions. Even though the US has said it would not begin sanction proceedings against any bank or insurance company backing the purchase or shipment of Russian fertilizer, some European sanctions are not as generous.

At the same time, many in the international financial community remain wary about initiating a deal, only to find that the rules might change at the last minute.

Middle East:

The netback from the RCF/India tender is estimated at $645-$650/mt FOB. The price is well below the hoped-for $680/mt FOB that Fertiglobe offered in the tender. It is also a large drop from the last spot deal, but not wholly unexpected.

Sources said urea booked under the RCF tender and under existing long-term contracts with other buyers around the globe could mean full order books through October.

Iranian exports for January-August 2022 were reported at 3.1 million mt by Trade Data Monitor, up 24% from the 2.5 million mt exported during the same period in 2021. The main buyers were Turkey at 964,000 mt, South Africa at 430,000 mt, and Mozambique at 228,000 mt.

August 2022 exports were reported at 631,000 mt, up 25% from the 507,000 mt exported during August 2021. South Africa accounted for 23% of the sales with 143,000 mt. Turkey took 104,000 mt for 22% of exports. Mozambique bought 102,000 mt in August for another 16% of the sales, and Thailand bought 10% of the exports at 65,000 mt.

Egyptian producers remained quiet as the world focused on the Indian tender. There are reports that a plant or two will be taking routine turnarounds.

Indonesia:

A sale of 35,000 mt of granular urea for October shipment was concluded at $675/mt FOB. The deal moved up prices on the heels of the RCF/India tender. Sources said Swiss Singapore will be using a previously purchased cargo as part of its shipments to India.

China:

The netback to China from the RCF/India tender is calculated at $650/mt FOB. The price fits in with the Arab Gulf prices. For the past few years, prices out of China and the Gulf have been running at parity. Sources estimated just a bit less than 200,000 mt will go to India from China.

South Korea:

January-August 2022 imports of urea were reported at 714,000 mt by Trade Data Monitor, up 15% from the 619,000 mt purchased during the same period in 2021.

While China was still the main supplier of urea to South Korea for the first eight months of the year at 206,000 mt, its shipments were down 55% from the 463,000 mt sold during the same period in 2021.

Other suppliers were big winners with China’s absence. Qatar, with 157,000 mt, was up from 29,000 mt the previous year. Indonesia sent marginally more, at 74,000 mt from the 61,000 mt in 2021. Vietnam sales jumped to 59,000 mt from the January-August 2021 sales of 6,000 mt.

August 2022 imports were up dramatically to 104,000 mt. This is a 61% increase from the August 2021 imports of 43,000 mt.

Ethiopia:

Reports are circulating that Ethiopia will soon be calling another urea tender, but with no word on how many tons it will be looking for.

January-August 2022 urea imports were reported at 456,000 mt by Trade Data Monitor, a marginal increase from the 431,000 mt imported during the same period in 2021. Egypt dominated the supply, sending 355,000 m, followed by the UAE with 100,000 mt.

August 2022 imports were reported at 50,000 mt, and all from Egypt. No tons were imported during August 2021.

Black Sea:

Russian material is expected to be part of the tons heading to India. Sources noted that this tonnage would most likely be coming out of Baltic ports instead of the Black Sea.

Traders said most of the urea coming out of the Black Sea is product from non-Russian countries connected to the Sea. Most of the product is being shipped out of Poti in Georgia on the far eastern edge of the Black Sea.

So far, said sources, the prices and quantity of Russian material that have come out of the Black Sea have been jealously guarded.

Brazil:

The reaction to the Indian tender price was a drop in prices in Brazil. Sources are now calling the market $700-$750/mt CFR. The move comes as more pressure builds to go to sub-$700/mt CFR, but no one has been able to confirm any deals at that lower level.

Rondonopolis is also softer at $830-$910/mt FOB ex-warehouse. Markets softened first as buyers held off making a commitment until the Indian tender numbers were released. As soon as the numbers were released, the market looked at the price as a steadying force instead of an indicator of a major shift.

Some also noted that the inability of RCF to secure the full 1 million mt it had requested could mean that some traders might have cargoes for sale to other markets, such as Brazil.

UAN

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

US Gulf:

NOLA UAN barge price ideas strengthened again as sources continued to report product being pumped into the export market. Barges were called $520-$540/st ($16.25-$16.88/unit) FOB.

US Imports:

July UAN imports were noted at 78,918 st, a 63.3% decrease from the year-ago 215,043 st. Russia led July imports with 39,751 st. Canada followed with 33,492 st, while 5,564 st was shipped from the Netherlands during the month.

US Exports:

UAN exports for July were counted at 155,419 st, up 89.9% from the year-ago 81,821 st.

Eastern Cornbelt:

UAN-32 terminal prices strengthened to $565-$575/st ($17.66-$17.97/unit) FOB in the Eastern Cornbelt for limited offers, up from the prior week’s $535-$565/st ($16.72-$17.66.unit) FOB range, with the low confirmed early in the week out of spot Illinois River terminals. Rail-DEL pricing in the Indiana market was pegged at the $585/st ($18.28/unit) level.

UAN-28 offers FOB Cincinnati, Ohio, were pegged in a broad range at $475-$495/st ($16.96-$17.68/unit) FOB, depending on supplier.

Western Cornbelt:

UAN-32 prices in the Western Cornbelt continued to strengthen for limited offers. Sources quoted the market at $555-$585/st ($17.34-$18.28/unit) FOB, up from the prior week’s $525-$565/st ($16.41-$17.66/unit) FOB, with the low confirmed at Port Neal, Iowa, at midweek.

New UAN-32 pricing FOB Muscatine, Iowa, was pegged in the $570-$585/st ($17.81-$18.28/unit) range, while rail-DEL offers were reported at $595-$600/st ($18.59-$18.75/unit) in Nebraska.

Northern Plains:

The latest UAN-32 offers in the region were confirmed at $580-$595/st ($18.13-$18.59/unit) FOB terminals in Minnesota, up from $570-$575/st ($17.81-$17.97/unit) FOB the week before. The UAN-28 market in North Dakota was pegged at $550/st ($19.64/unit) FOB and $555/st ($19.82/unit) DEL at mid-month.

Northeast:

UAN-32 pricing in the Northeast jumped to $525/st ($16.41/unit) FOB Baltimore, Md., for new offers. UAN-32 offers out of terminals in upstate New York were quoted at the $600/st ($18.75/unit) FOB mark, up from $550/st ($17.19/unit) FOB in late August.

Ammonium Sulfate

Ammonium Sulfate, Brazil, China, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, South Korea, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

US Gulf:

NOLA ammonium sulfate barges were reported in the $400-$410/st FOB range, up from the week-ago $400-$405/st FOB.

US Imports:

July ammonium sulfate imports were reported at 44,155 st, rising 4.8% from the July 2021 total of 42,131 st. Imports from Belgium were counted at 30,349 st for July, ahead of Canada’s 13,461 st, and 238 st from the Netherlands.

US Exports:

Ammonium sulfate exports totaled 22,628 st for July, a 58.8% decline from 54,916 st recorded in July 2021.

Eastern Cornbelt:

The granular ammonium sulfate market was steady at $460-$480/st FOB in the Eastern Cornbelt, depending on location. Cincinnati pricing remained in the $465-$480/st FOB range at mid-month.

Western Cornbelt:

Granular ammonium sulfate pricing was unchanged at $450-$480/st FOB in the Western Cornbelt, with the low confirmed at St. Louis.

Northern Plains:

Sources reported a slight increase to ammonium sulfate prices in the Northern Plains, with the market firming to $450-$465/st DEL, up from $430-$445/st DEL. Pricing on an FOB basis remained at $465-$495/st, with the low in Minnesota and the high at Sioux City, Iowa.

Northeast:

Delivered granular ammonium pricing in the Northeast remained at $490-$515/st in mid-September. Terminal prices were steady at $455-$485/st FOB in the region, depending on location.

China:

Ammonium sulfate prices in China moved up on additional demand from Europe and steady demand from Brazil. Sources said deals were done at $220-$230/mt FOB for standard caprolactam amsul. As the week ended, new deals showed sales more in the upper end of the range.

Brazil:

International traders were quoting the low end of the Brazil market at $290/mt FOB and the high at $310/mt FOB. Brazilian sources, however, called the market tighter at $300-$320/mt CFR for granular amsul.

Sources have begun to express concern about the market. Increased demand from Europe for amsul as a substitute for urea in blending, along with reduced output from China as production wanes, could lead to higher prices for buyers used to having low-cost amsul readily available.

Rondonopolis pricing remained steady at $420-$440/mt FOB ex-warehouse.

South Korea:

Ammonium sulfate exports for January-August 2022 were reported at 190,000 mt by Trade Data Monitor, roughly half of the 382,000 mt exported during the same period in 2021. Three countries took nearly all of the tonnage from South Korea so far this year. Mexico bought 83,000 mt, the US purchased 59,000 mt, and New Zealand took 41,000 mt.

August 2022 exports were reported at 46,000 mt, up by almost half from the 32,000 mt exported during August 2021. The month’s sales were divided between the US, taking 31,000 mt or 67% of the exports, and New Zealand, which took 32% at 15,000 mt.

DAP/MAP

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

Central Florida:

Players noted pricing on DAP loaded to trucks at Central Florida rising to $770/st FOB during the week, up $5/st from $765/st FOB reported previously. Truck-loaded MAP moved up $5/st as well, to $790/st FOB from $785/st FOB in the prior report.

Truck-loaded MAP continued to be offered at $820/st FOB from North Florida, unchanged from one week earlier.

US Gulf:

Players noted firming values on the NOLA MAP barge market, while DAP barges were seen softening from week-ago levels.

Pricing on MAP was reported lifting to a fresh $790/st FOB high, above the prior $785/st FOB top, while trades were heard bottoming at the market’s previously-reported $780/st FOB floor. A rumored $778/st FOB barge offered on Sept. 12 was not confirmed on Sept. 15.

The week’s DAP high was unmoved from the top of the prior-week range at $765/st FOB, while low reportedly fell to a $755/st FOB floor on trades and offers of imported material during the week.

Domestically produced MAP and DAP offers continued to be reported at $785/st FOB and $765/st FOB, respectively.

NOLA DAP barges softened to the $755-$765/st FOB range for the trading week, down from $760-$765/st FOB at last report. MAP barges loading from NOLA were quoted at $780-$790/st FOB, above the prior week’s $780-$785/st FOB range.

US Imports:

July DAP imports were off 85.1%, falling to 28,504 st from the prior-year 191,402 st. Australia topped the lean July import slate with 26,168 st, followed by 696 st from Belgium, and 639 st from China.

July MAP/Other imports stood at 35,030 st, off 75.7% from the year-ago 144,223 st. Imports from Australia topped the July MAP list at 27,503 st. China added 2,611 st, while tons loading from Mexico were noted at 2,437 st.

US Exports:

DAP exports stood at 59,334 st for July, up 58.7% from the year-ago 37,385 st. July MAP/Other cargoes totaled 71,836 st, falling 68.2% against the prior-year 225,681 st.

Sources reported DAP and MAP export sales totaling 20,000 mt concluding on Sept. 9. The material, slated to load from Tampa in October and destined into the northern Latin American markets, was priced in the $765-$785/mt FOB range. The market was last reported at $910-$925/mt FOB.

Players reported price indications for the next round of business in the $780-$800/mt FOB range for tons loading in October.

Eastern Cornbelt:

DAP prices were pegged at $805-$815/st FOB in the Eastern Cornbelt, with MAP quoted at $820-$830/st FOB in the region. Cincinnati pricing was pegged at $805-$810/st FOB for DAP and $825-$830/st FOB for MAP.

Michigan sources confirmed DAP offers at $825/st FOB Toledo for September tons.

Western Cornbelt:

DAP remained at $800-$810/st FOB in the Western Cornbelt, with MAP pricing reported in the $820-$830/st FOB range. The St. Louis market was unchanged at $800-$805/st for DAP and $820-$825/st FOB for MAP.

Northern Plains:

DAP pricing was unchanged at $800-$810/st FOB St. Paul, with MAP reported at $825-$835/st FOB at that location. Delivered green MAP in western North Dakota remained at the $890/st level for the last fill offers.

Northeast:

Phosphate prices were up slightly in the Northeast, with DAP reported at a firm $830/st FOB East Liverpool, Ohio, up from the previous $820/st level. MAP pricing in the Northeast was pegged at $850/st FOB East Liverpool and $855/st FOB Fairless Hills, up from the prior low of $840/st FOB.

India:

Sources reported more DAP purchases directly from Chinese producers. The latest two deals of 50,000 mt each were reportedly at $780/mt CFR.Buyers continue to talk directly with Chinese producers and push for lower prices.

China:

The estimated netback from the recent DAP sales to India was pegged at $750-$770/mt FOB. Some traders are also calling the market a bit higher. Even as export restrictions remain in place, sources noted that the producers seem happy to be working directly with major buyers instead of through trading houses.

Brazil:

Buyers keep pushing for $700/mt CFR and below, but can’t seem to make it. Sources said the price range tightened to $740-$790/mt CFR, with the upper end dropping. The push for lower prices comes as reports keep surfacing of plentiful stocks at the ports.

Rondonopolis MAP prices dropped to $860-$920/mt FOB ex-warehouse, with the same high stockpile issue facing sellers trying to push back against ever-lower bids.

TSP

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

US Gulf:

NOLA TSP barge pricing was reported softening to the $690-$710/st FOB range during the week, a change from $700-$710/st FOB reported previously.

Eastern Cornbelt:

The TSP market remained at $740-$750/st FOB Cincinnati.

Western Cornbelt:

The TSP market was pegged in a broad range at $725-$760/st FOB for the last confirmed offers in Missouri, with the low reported at St. Louis.

Phosphoric Acid

Eastern Cornbelt, India, Market Watch, Northern Plains, Phosphoric Acid, U.S. Exports, Western Cornbelt

US Exports:

Wet-process phosphoric acid totals were posted at 39,739 st for July, up 3.0% from the 38,589 st noted one year earlier.

Eastern Cornbelt:

September phos acid postings in the Eastern Cornbelt remained at $14.00/unit rail-DEL.

Western Cornbelt:

Phos acid prices were steady at $14.00/unit rail-DEL in the Western Cornbelt for September tons.

Northern Plains:

Phos acid pricing for September shipments remained at $14.00/unit rail-DEL in the Northern Plains, unchanged from August.

India:

Phosphoric acid contracts covering deliveries to India from Jordan were valued at $1,715/mt P2O5 CFR for the second and third quarters, a $185/mt increase from $1,530/mt P2O5 CFR in the first quarter.

Ammonium Polyphosphate

Ammonium Polyphosphate, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, Western Cornbelt

Eastern Cornbelt:

10-34-0 pricing was steady at $665-$675/st FOB for the last confirmed offers in the Eastern Cornbelt.

Western Cornbelt:

The 10-34-0 market was pegged at the $660-$670/st FOB level in the Western Cornbelt in mid-September.

Northern Plains:

10-34-0 offers were quoted at $670-$675/st FOB in the Northern Plains, with delivered pricing reported at $700-$710/st in central North Dakota.

Northeast:

10-34-0 prices in New York were quoted at $720/st FOB at mid-month, down $5/st from last report.