All posts by mickeybarb@charter.net

New Brazil Fertilizer Terminal Opens

Brazil, News, News Briefs

Transportation and distribution company Rumo SA, Curitiba, PR, and Andali, a joint venture between US-based agribusiness cooperative CHS Inc. and BRFértil, started operations at their new fertilizer terminal on the North-South Railway in Rio Verde, Goiás, on Aug. 9, according to Valor International. The project will enable fertilizer transport from the Port of Santos, in São Paulo, to Goiás.

Andali CEO Rafael Vaccari Gonçalves told the paper that freight transportation is expected to go from 500,000 mt this year to 800,000 mt in 2023, and then to 1.5 million mt in 2025. A fertilizer mixing plant was also built at the location.

Texas Tech, NSF Announce Partnership for Fertilizer Production

News, News Briefs, Nitrogen, Specialty, U.S.

Texas Tech University on Aug. 10 announced a partnership with four other institutions of higher education and the US National Science Foundation (NSF) to create the NSF Engineering Research Center for Advancing Sustainable and Distributed Fertilizer Production (CASFER).

CASFER, headquartered at Texas Tech, received a $26 million grant from the NSF for an initial five-year period, with the possibility of renewing the grant for five more years and another $25 million. Texas Tech will lead the collaborative center, and is joined by Florida Agricultural and Mechanical University, Georgia Institute of Technology, Case Western Reserve University, and the Massachusetts Institute of Technology.

“This is a tremendous opportunity to solve one of the largest problems in the world: how we feed the growing population while protecting and sustaining our environment,” said CASFER Center Director Gerri Botte. “We are going to enable resilient and sustainable food production, and we’re going to do that by making the next generation of technology to produce nitrogen-based fertilizer (NBF) more efficiently while implementing waste streams. We’re going to transform the United States and the world from a nitrogen pollution economy to a nitrogen circular economy in which we’re going to recycle nitrogen-based fertilizer and use it to produce crops and food. With CASFER, we are moving toward a nitrogen circular economy.”

Texas Tech said the CASFER engineered system will revolutionize the capture, recovery, and recycling of NBFs using byproducts from untapped sources of waste, including concentrated animal feeding operations, municipal wastewater treatment plants, and runoff. CASFER also will deliver synthetic methods that use waste and sustainable resources for decarbonized NBF production.

Acron Launches Calcium Nitrate Unit

News, News Briefs, Russia, Specialty

Acron Group, Moscow, on Aug. 10 announced the launch of a 100,000 mt/y unit to produce granulated calcium nitrate at its facility in Veliky Novgorod. Acron invested approximately RUB1.5 billion in this project.

“We have expanded our portfolio with this top-quality premium product, which is both highly effective and eco-friendly,” said Acron CEO Vladimir Kunitsky. “It also helps us boost the potential of our NPK operations by creating new processing opportunities.”

Acron said the calcium nitrate is a crystalline salt extensively used as fertilizer. It easily dissolves in water, contains a high percentage of calcium (19%), and is free of insoluble impurities. It is applied to various types of soil, but proved to be most effective for sod-podzolic soil.

Acron uses liquid calcium nitrate, a byproduct of apatite concentrate processing at NPK operations, as feedstock for this new fertilizer, and plans to produce its various brands for industry and agriculture. The agriculture-grade calcium nitrate will include fertilizers for soil application and water-soluble products for greenhouses.

The new fertilizer is stored in a specially equipped warehouse, from where it is shipped to customers by rail and by road in bags, stretch-hoods, and big bags.

CF to Spend $198.5 M on CO2 Unit in Plan to Produce Blue Ammonia at Donaldsonville

Blue Ammonia, Eastern Cornbelt, Louisiana, News, News Briefs

CF Industries Holdings Inc., Deerfield, Ill., plans to invest $198.5 million to construct a CO2 compression and dehydration unit at its Donaldsonville complex in Louisiana’s Ascension Parish in an effort to reduce carbon emissions at what it said is the largest ammonia production facility in the world. The project would create 12 new direct jobs with average salaries of $100,000 per year, plus benefits.

“We believe that ammonia will play a critical role in accelerating the world’s transition to clean energy and that demand for blue ammonia for this purpose will grow meaningfully in the coming years,” said Tony Will, CF President and CEO. “We are pleased to be able to leverage our previous investments in Louisiana to add CO2 processing technology to our Donaldsonville complex that will enable a significant volume of blue ammonia production by the middle of the decade. This will position CF Industries and Louisiana at the forefront of this emerging global market.”

CF estimates this project would enable up to 6,000 tons of process CO2 per day – as much as 2 million tons per year – to be captured, liquefied, and transported via pipeline to a sequestration site yet to be determined. This process would enable the company to produce up to 1.7 million tons of blue ammonia annually.

“To achieve our goal of net zero emissions by 2050, Louisiana must simultaneously increase new clean energy investments and decrease current greenhouse gas emissions,” Gov. John Bel Edwards said. “CF Industries’ plan to add carbon capture capabilities to its Donaldsonville plant accomplishes that, while stimulating economic activity and creating high-paying jobs in Ascension Parish. We applaud the company’s commitment to sustainability and encourage other industry leaders to recognize that decarbonization is good for both our economy and our climate.”

CF’s application for participation in the State of Louisiana’s Industrial Tax Exemption program has received Board of Commerce and Industry and all necessary local government entity approvals. The company is also expected to utilize the state’s performance-based Quality Jobs program.

Scotts Posts 3Q Loss; Guidance Lowered

Earnings, Eastern Cornbelt, News, Specialty

The Scotts Miracle-Gro Co., Marysville, Ohio, posted a net loss for the third quarter ending July 2 of $443.9 million ($8.01 per diluted share) on net sales of $1.19 billion, compared to a year-ago net income of $225.9 million ($3.94 per share) and $1.61 billion, respectively. Adjusted EBITDA was $209.6 million, down from $357.1 million.

“Behind a complicated story this quarter, we were pleased to see consumer engagement build as the weather improved and the season progressed,” said Jim Hagedorn, Scotts Chairman and CEO. “While consumer purchases are down 8% in units year-to-date, that performance is in line with the guidance we laid out at the beginning of the year. We are extremely encouraged that consumer purchases in May and June were at near-record levels, once again showing the resiliency of the category. Unfortunately, shipments to our retailer partners did not keep pace with consumer demand, as retailers in all channels took steps to lower their own inventory levels.

“The lower-than-expected sales in our US Consumer segment, combined with continued pressure on Hawthorne sales due to oversupply issues in the cannabis industry, leave us unsatisfied with our financial results and with higher leverage than we want to maintain,” he added. “That is why we have launched the business transformation effort we are calling Project Springboard, which includes a series of aggressive steps to return the business to an appropriate level of performance.” The company had already announced job cuts at Hawthorne.

“The outcome of Project Springboard will lead to a set of detailed financial and incentive-related targets to ensure we are making substantive progress and holding ourselves accountable. We are committed to getting the business back on the right track, returning to an appropriate level of profitability in both segments,” said Hagedorn.

Scotts lowered full-year sales guidance for its US Consumer segment to down 8-9% from the down 4-6% that was given in June, and full-year EPS to $4.00-$4.20 from $4.50-$5.00.

Scotts reported a nine-month loss of $217.5 million ($3.91 per share) on sales of $3.43 billion, compared to the year-ago net income of $561.3 million ($9.81 per share) and $4.19 billion, respectively. Adjusted EBITDA was $630.5 million, down from $911.7 million.

Yara International ASA – Management Brief

Brazil, Management Briefs, Norway

Yara International ASA, Oslo, on Aug. 12 announced the appointment of Marcelo Altieri as the company’s new President in Brazil, effective Aug. 1. The executive, who has been with Yara since 2014, was Vice President of Operations in Latin America. He also led the company’s operations in Colombia.

“I am very excited to lead the transformation that Yara is implementing in agriculture and in the other chains where it operates,” said Altieri. “Brazil is one of the company’s main operations in the world, and plays a major role in the construction of this commitment that we have assumed with climate neutrality by 2050.

“To overcome the challenges that lie ahead, we will expand the sharing and use of Yara’s knowledge, and will work in a collaborative model to improve crops and soil health, decarbonize production, and reduce greenhouse gas emissions, making our agriculture increasingly productive, sustainable, and resilient,” he continued.

Altieri, an agronomist, is from Uruguay. He graduated from the Universidad de La Republica (Uruguay), and has specializations in Marketing and Finance from Boston University in the US and Global Economics from The London School of Economics and Political Science in the UK, as well as an MBA from Mexico’s EGADE Business School.

Ammonia

Ammonia, Brazil, Eastern Cornbelt, India, Market Watch, Middle East, North Africa, South Central, Southeast Asia, Southern Plains, Tampa, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

U.S. Gulf/Tampa:

Tampa ammonia prices were $1,100/mt CFR in August, up from July’s $960/mt CFR. As for September prices, most anticipate an increase based on the natural gas-based outages in Europe. In addition, the third quarter is also the time for ammonia and downstream nitrogen plant turnarounds, which could be a factor in firming up available supplies.

In the meantime, the new Ma’aden’s plant is now in commercial production after its initial trial, which could serve to at least partially offset some of the outages. In addition, sources report a lull in industrial demand.

U.S. Imports:

Ammonia imports for June were down 25.0%, according to the US Census Bureau, to 214,592 st from the prior-year 285,983 st. Imports totaled 2.73 million st for the concluded July-June fertilizer year, rising 2.4% year-over-year from 2.66 million st.

U.S. Exports:

June ammonia exports were up 840.0% year-over-year, to 94,295 st from 10,031 st. July-June totals were down 9.8%, however, to 464,333 st from 514,656 st one year earlier.

Eastern Cornbelt:

The ammonia market remained at $1,000-$1,050/st FOB in the Eastern Cornbelt, with the low confirmed at Lima, Ohio, for prompt tons and the high for fall prepay offers at that location.

Illinois terminals were pegged at $1,025-$1,030/st FOB for prompt or prepay, depending on location and supplier, with the Indiana market quoted at $1,030-$1,035/st FOB.

Western Cornbelt:

Prompt or prepay ammonia prices edged up to $940-$950/st FOB Nebraska terminals and $955/st FOB Port Neal, Iowa. “Most have moved to a single price now for prompt or prepay,” said one contact.

Southern Plains:

Ammonia pricing for prompt or 4Q delivery were quoted at $850/st FOB Woodward, Okla., $900/st FOB Verdigris, Okla., and $950/st FOB Coffeyville, Kan. Truck pricing out of Gulf Coast terminals ranged broadly at $850-$1,050/st FOB, with the low based on netbacks to Beaumont, Texas.

South Central:

The truck market for ammonia was reported in a wide range at $850-$1,050/st FOB Gulf Coast terminals, depending on location, with the low based on netbacks for delivered tons and the high reflecting new postings since the conclusion of August Tampa business. No prices were reportedly being offered at El Dorado, Ark., Cherokee, Ala., or Midway, Tenn.

Northwest Europe:

Despite the high cost of natural gas for ammonia production, the price for ammonia remains at $1,200-$1,250/mt C&F. Sources said the price is determined now more by imports than European production.

Demand for ammonia is Europe is low as the continent takes off for the traditional August holidays. The product that is needed for August and September has already been booked at prices that do not reflect the impact of the current high cost of natural gas. Sources estimate the production cost of 1 mt based on the current natural gas price is about $2,000/mt. This is a level much higher than what buyers are paying.

Once the holidays end and the tonnage bought earlier is depleted, sources said prices in Northwest Europe will move up to $1,400/mt C&F if the energy situation remains tight and uncertain. Tempering some of the pricing expectations are concerns the European economy – and likely the global economy – could slip into a recession. The resulting reduction in demand for industry could cause a collapse in the market.

One of the biggest influences on holding down the Northwest Europe price is the plentiful supply of ammonia from other parts of the world. Sources said Arab Gulf producers are more willing to ship product to Europe to take advantage of the high prices. At the same time, ammonia from Trinidad and North Africa is also regularly being snapped up.

Occasional cargoes from Indonesia are seen as unlikely if the Kaltim V facility remains down.

Southeast Asia:

The Indonesian government and Kaltim management are not saying much to the public about the future of Kaltim V. The plant has shuttered its ammonia and urea production since an explosion occurred in the facility last month.

Sources said the company is still assessing the damage and costs of repairs. Expectations are now that the plant will remain shut into February 2023.

Reportedly, the ammonia tanks were not affected by the explosion, allowing Kaltim to honor many of its commitments for July and August shipments. Once that tonnage is gone, however, exports from Indonesia are expected to stop.

Buyers in the region said some small cargoes of Chinese ammonia are being shopped around at $700/mt FOB. The price is very attractive to many buyers, but the quantities are said to be just under a few thousand tons with each offer. In many cases, this is not enough ammonia for the buyers’ needs.

Pricing in the region continues to be under pressure, not only from the presence of the Chinese ammonia, but also because of the economic slowdown taking place in the area and in the world. Less demand for end-products from Taiwan and South Korea means less demand for ammonia from the industries. While contracts to take ammonia are being honored, no one is asking for extra material or going into the spot market for additional tons.

India:

Sources said some small lots of ammonia from China and Iran have been finding their way to Indian buyers. The final prices for the shipments are being closely held. Sources speculated that some substantial bargains might be found in the deals.

Without any confirmation of these smaller deals, sources said the market price into India remains at $825-$850/mt CFR, based on larger, more public deals recently done.Sources noted, however, the presence of offers from Iran is beginning to put some pressure on Arab Gulf producers to lower their prices to compete.

Middle East:

Producers are focusing their attention on markets west of the Suez Canal, especially Europe. The high price in Antwerp is a magnet for sellers looking to maximize their profits and remove excess tons from the marketplace. At the same time, there is also sufficient demand from Morocco for material to replace the ammonia that normally comes from the Black Sea.

The demand from North Africa and Northwest Europe comes as a relief to the producers, who are facing strong push backs from their usual buyers in Southeast Asia, where the market has gone soft.

Producers argue that prices in Europe at $1,150-$1,200/mt CFR justify a netback of $1,100/mt FOB. However, buyers in the Western and Eastern Hemispheres are rejecting this argument, noting the plentiful supply of ammonia in the Arab Gulf.

North Africa:

Sources reported that a vessel is booked to take ammonia from Donaldsonville, La., to Morocco for OCP. The tonnage was not revealed, but sources estimated the price at $1,050/mt FOB.

The Moroccan phosphate giant has been taking what ammonia it can from whatever source it can to make up for the loss of ammonia from Russia. Sources said even though the tonnage lost is significant, OCP does not seem to be desperate for product. They have taken tons from Indonesia, Trinidad, the US, and the Arab Gulf, as well as from nearby North African suppliers.

Reportedly, OCP has shifted some of its production away from ammonia-hungry DAP to MAP and TSP to stretch its ammonia supplies as much as possible.

The Libyan Fertilizer Company announced it was restarting its #2 ammonia and urea plant. The facility was shut down for two months following issues with oil production and embargoes. The #1 plant is expected to be back online later this month.The ammonia production at the Libyan plant is expected to stabilize at 80% of its 800 mt/d rated production.

Brazil:

Ammonia imports for January-July 2022 were reported at 271,000 mt by Trade Data Monitor. This amount represents a 30% drop from the 385,000 mt imported during the same period of 2021.

July 2022 imports were reported at 32,000 mt, almost half of the 63,000 mt imported during July 2021. The two suppliers for June were Trinidad with 25,000 mt and the US with 6,000 mt.

Urea

Africa, Brazil, China, Eastern Cornbelt, India, Market Watch, Middle East, South Central, Southeast, Southeast Asia, Southern Plains, U.S. Exports, U.S. Gulf, U.S. Imports, Urea, Western Cornbelt

U.S. Gulf:

NOLA urea barges took a breather, drifting downward from the week-ago $580-$620/st FOB. Very little trading was reported, with a firm $563/st FOB confirmed late in the week for delivery within the next 30 days. Earlier in the week, $575-$584/st FOB was reported for September.

U.S. Imports:

June urea imports were reported at 436,473 st, a 21.0% increase from the year-ago 360,660 st. July-June volumes were noted at 6.17 million st, up 21.9% from last year’s 5.06 million st.

Imports originating from Qatar stood at 1.20 million st for the July-June fertilizer year. Russia’s 976,717 st total was good for second place, ahead of Oman’s 921,813 st. Saudi Arabia added 899,446 st for the period.

U.S. Exports:

Urea exports for June firmed 547.0% year-over-year, to 75,825 st from 11,719 st. July-June exports were up 20.1%, to 880,144 st from 732,995 st in the prior year.

Eastern Cornbelt:

The urea market was pegged at $610-$630/st FOB in the Eastern Cornbelt, with both the high and low reported at Cincinnati, Ohio, during the week. New offers FOB Ottawa, Ill., were quoted at the $620/st FOB level at midweek.

Western Cornbelt:

The urea market was steady at $610-$640/st FOB in the Western Cornbelt, depending on location, with the low confirmed at St. Louis, Mo.

Southern Plains:

The urea market in the Southern Plains strengthened to $620-$625/st FOB Catoosa/Inola, Okla., and Enid, Okla., with the Houston, Texas, market pegged firmly at the $625/st FOB level at midweek.

South Central:

Urea prices were reported in a broad range at $600-$650/st FOB in the South Central region, with the low confirmed at Convent, La., and the upper end at Memphis, Tenn. Kentucky sources pegged the common price at the $625/st FOB level out of Ohio River terminals at midweek.

Southeast:

Urea prices were quoted at $610-$640/st FOB port terminals in the Southeast, depending on location, up from the previous week’s $600-$620/st FOB range. The common price FOB Wilmington, N.C., was pegged at the $620/st level at midweek. No tons were reportedly available at Savannah, Ga.

India:

The next urea tender is expected during the last week of August. The country remains about 1 million mt short of urea, according to all estimates. Sources said the next tender will likely be like the most recent one, with the buyer looking for no more than 500,000 mt.

Sources said the price levels for the next tender will be determined by traders offering Chinese product. Chinese traders already see a good profit in the difference between the domestic price of $360-$370/mt FOB ex-factory and the $470-$480/mt FOB for exports. This gap could be an incentive for the traders to hold to their pricing rather than overprice their product and miss selling to India.

Sources reported a tightness in the granular market, leading traders to predict that prills will dominate the Indian tender. Part of the tightness is coming from China, where the government is holding back on permission to export granular, but is granting permits for prills.

China:

The domestic market is pegged at $360-$370/mt FOB ex-factory. The export market is still publicly at $470-$480/mt FOB, based on the previous Indian tender. Sources said offers are being made at $490-$500/mt FOB, but only for material being held for the next Indian tender.

The main issue lining up Chinese urea is getting past the export permit procedures. Sources noted that once permission is granted to export a cargo, it must be moved out within 60 days. Reportedly, there is discussion about some urea already cleared at $485-$490/mt FOB, but no confirmations that these deals have closed. Sources said the holders of these tons are looking to move it out quickly in case the Chinese government changes its policy on urea exports.

Chinese traders are looking at building up reserves of prilled urea for offers in the upcoming Indian tender. Granular urea is being held back by customs officials for the domestic reserves. At the same time, they are looking at the price gap between the domestic and export prices. Sources said these traders are expressing a willingness to keep the export price at the $100/mt distance from the domestic price to ensure getting awards in the tender.

The attitude of the Chinese traders is frustrating to the international traders, who are facing higher prices from the Arab Gulf and Egypt. Another tender that closes around $520/mt CFR into India could mean that only product from China will be considered.

Southeast Asia:

Information about the future of the Kaltim V plant is being closely held by the government and company. Sources now do not expect to see the plant running until at least February 2023.

Sources said the company has enough material on hand to cover its export orders. A cargo of Kaltim granular urea held by Keytrade is reportedly on its way to Europe, as urea producers there find it is cheaper to import rather than produce their own due to high natural gas prices.

Between what Kaltim has in its warehouses and what can be made by the other producers, the domestic market is well covered. Once the tons in the warehouses are gone, however, granular product in the area will become tight. Sources said the region may be facing a situation where no granular urea is available for sale.

Atlas in the Philippines is already feeling the impact of limited granular urea in the area. The buyer had to scrap a 6,000 mt granular urea tender because no one made an offer. Usually there are sufficient offers to make the process competitive and to offer a glimpse at where pricing might be headed.

Sri Lanka is beginning to distribute urea to its farmers after the first shipment of 44,000 mt under an Indian line of credit arrived from Oman. A second cargo of 25,000 mt is expected soon.

The island nation was desperate for urea after its former president banned the import of all fertilizers except organic fertilizer. The result was a national average drop of 30% in paddy rice output, and in some areas as much as a 50% drop. The loss in agricultural output hit the country’s economy, leading it to exhaust its foreign reserves. The loan from India was designed to help the cash-strapped country begin to recover.

The decision to ban all but organic fertilizers was evident in the urea import numbers. According to Trade Data Monitor, Sri Lanka imported 491,000 mt of urea in 2018, 378,000 mt in 2019, and 540,000 mt in 2020. The import ban, which became effective May 2021, dropped the imports to 162,000 mt.

So far this year Sri Lanka has imported 70,000 mt, compared to 159,000 mt for the same period in 2021. The total amount of urea imported from June 2021 through June 2022 was 38,000 mt.

Middle East:

Sources reported deals done at $620/mt FOB. The move fits with demand from Europe as producers there see importing urea as a better option than making it.

While Arab Gulf producers look to Europe for strong netbacks, their efforts to push prices higher keep facing pushback from Asian buyers. While demand is steady, sources said buyers are unwilling to pay much more for the product.

Producers are keeping a close eye on the Chinese price. If the Chinese traders allow for prices close to those offered in the last Indian tender, the Arab Gulf producers may forego supporting any business into India.

Prices have stalled in Egypt. After a dramatic run-up beginning in late July, sources reported that prices have topped off at $765/mt FOB and stopped. Efforts to move the price with rumors of $775/mt FOB and $780/mt FOB early in the week were squashed as buyers and traders around the world pushed back hard.

The Libyan Fertilizer Company announced that it has restarted its #2 urea and ammonia plant after a two-month shutdown. The plant is expected to turn out 80% of its 1,400 mt/d rated output. The #1 plant is expected back online later this month.

Ethiopia:

Urea imports for January-July 2022 were reported at 406,000 mt by Trade Data Monitor. This represents a 6% drop compared to the 431,000 mt imported during the same period of 2021.

July 2022 imports were reported at 61,000 mt, down about 31% from the 88,000 mt imported during July 2021. The main suppliers were Egypt with 50,000 mt for 82% of the import market, and the United Arab Emirates with 10,000 mt for the remaining 18% of the market.

Brazil:

Urea prices shifted to $660-$680/mt CFR with more talk than trade taking place. Reports of small lots being sold at $640/mt CFR remained elusive to nail down. Some buyers were arguing not only for the $640/mt CFR, but also for $10/mt less because of a growing backlog of urea waiting to be unloaded from arriving vessels.

Sources said prices in the upper-$600s/mt CFR are not sustainable. They point to the rumored willingness of Chinese traders to hold the line on pricing into the Indian tenders as an argument that prices need to come off for Brazil as well.

Rondonopolis is reported at $800-$815/mt FOB ex-warehouse, reflecting a tightening of the market price. Sources said slow demand is encouraging buyers to keep pushing for greater reductions in the price.

Imports for January-July 2022 were reported at 3.8 million mt by Trade Data Monitor. This is down about 9% from the 4.1 million mt imported during the same period in 2021.

Oman supplied 814,000 mt in the first seven months of the year. Rounding off the top five suppliers were Nigeria with 736,000 mt, Qatar with 677,000 mt, Russia with 625,000 mt, and Algeria with 365,000 mt.

July 2022 imports were reported at 671,000 mt, up about 5% from the 637,000 mt received during July 2021. Russia accounted for 21% of the imports in July with 137,000 mt. Nigeria supplied 19.6% of the imports with 131,000 mt, and Qatar sent 113,000 mt for 17% of imports.

Black Sea:

The range for the estimated price of prilled urea out of the Black Sea has widened to $555-$610/mt FOB. Sources said the deal to move Ukrainian wheat out of the region safely has not yet rolled over to fertilizers. While some Russian urea has come out of ports in the Eastern portion of the Black Sea, sources said so far nothing is coming out of the recently opened Ukrainian ports.

UAN

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

U.S. Gulf:

With CF’s UAN fill program off the table, most industry players saw higher price ideas at NOLA. The market was pegged at $400-$425/st ($12.50-$13.28/unit) FOB versus the week-ago $390-$400/st ($12.19-$12.50/unit) FOB range.

U.S. Imports:

June UAN imports totaled 90,442 st, off 71.4% from the year-ago 316,014 st. July-June imports were noted at 1.71 million st, down 37.0% from last year’s 2.72 million st.

Despite logging no new US imports since February, Trinidad and Tobago led imports for the fertilizer year with 542,614 st, off 41.5% from the year-ago 927,326 st. Recording just 36,253 st of US imports in 2022, Russia followed with 533,072 st for July-June, off 54.2% from the prior year. Canada added 490,267 st, up 11.0% year-over-year.

U.S. Exports:

June UAN exports were noted at 138,592 st, a 24.7% increase from the year-ago 111,172 st. Exports fell to 653,702 st in July-June, however, down 17.2% from the year-ago 789,241 st.

Eastern Cornbelt:

Slightly higher UAN-32 prices were reported in the Eastern Cornbelt after earlier summer fill program offers were withdrawn the week before. New levels were reported at $455/st ($14.22/unit) FOB Mount Vernon, Ind., and $460/st ($14.38/unit) FOB East Dubuque, Ill., up from a recent low of $435/st ($13.59/unit) FOB.

UAN-28 pricing remained at $390-$392/st ($13.93-$14.00/unit) FOB Cincinnati at the low end of the regional range. “I have gotten no new offers from CF since they pulled prices last week on UAN, but I have been able to source some product pretty close to CF’s original fill levels from some sources,” commented one Ohio source.

Western Cornbelt:

UAN-32 firmed to $450-$470/st ($14.06-$14.69/unit) FOB for new August-September offers in the Western Cornbelt, up from the last July-August fill offers at $420-$440/st ($13.13-$13.75/unit) FOB. The low end of the range was confirmed for new business at Port Neal, reflecting a $30/st increase, with the high end reported at St. Joseph, Mo.

Southern Plains:

Earlier UAN-32 fill offers at $415/st ($12.97/unit) FOB Woodward and Verdigris were no longer on the table. Sources confirmed new business at $440-$450/st ($13.75-$14.06/unit) FOB in the Southern Plains, with the low at Coffeyville and the high reported for new indications out of Oklahoma terminals.

South Central:

UAN-32 firmed to $455-$470/st ($14.22-$14.69/unit) FOB terminals in the South Central region, up from the last confirmed range of $435-$450/st ($13.59-$14.06/unit) FOB, with the low reported out of spot river locations in Kentucky.

Southeast:

UAN-32 prices in the Southeast were up after recent fill program offers were pulled. New pricing FOB Wilmington was pegged at the $485/st ($15.16/unit) FOB level, up from earlier fill pricing at a reported $425/st ($13.28/unit) FOB.

The latest offers FOB Augusta, Ga., were quoted at $475/st ($14.84/unit), up from recent fill offers at the $430/st ($13.44/unit) FOB level.

Ammonium Nitrate

Ammonium Nitrate, Brazil, Market Watch, South Central, Southern Plains, U.S. Exports, U.S. Imports, Western Cornbelt

U.S. Imports:

June ammonium nitrate imports were reported at 22,251 st, falling 19.5% from 27,636 st in the prior year. July-June totals stood at 335,937 st, down 0.6% from the year-ago 338,073 st.

U.S. Exports:

Ammonium nitrate exports for June were reported at 42,472 st, off 12.2% from last year’s 48,374 st. July-June exports were quoted at 446,213 st, 1.7% lower than the prior year’s 453,976 st.

Western Cornbelt:

The ammonium nitrate market dropped to $525-$535/st FOB in Missouri, with the low reported at Lamar and the high confirmed at St. Joseph.

Southern Plains:

The last ammonium nitrate business was pegged at the $500/st FOB level in Oklahoma, down $100/st from last report.

South Central:

The latest ammonium nitrate prices were quoted in the mid-$400s/st FOB Yazoo City, Miss., down from $550/st FOB in mid-July, although sources said most offers had been pulled.

Brazil:

Imports of ammonium nitrate remain depressed, largely due to the restriction imposed on exports by Russia. January-July 2022 imports were reported at 206,000 mt by Trade Data Monitor. This is down about 70% from the 675,000 mt imported during the same period in 2021. Russia supplied 193,000 mt of the tonnage received in the first seven months of the year.

July 2022 imports were reported at 37,000 mt, down dramatically from the 126,000 mt imported during July 2021. Russia supplied all the July material.