All posts by mickeybarb@charter.net

Amogy Increases Series B Round to $150 Million

Ammonia, News, News Briefs, Northeast

Ammonia-to-power technology provider Amogy Inc., Brooklyn, N.Y., on June 5 announced its $11 million Series B-2 fundraising to support commercialization and begin manufacturing of its ammonia-to-power technology, with the aim of bringing its first product to market in 2024.

After announcing $139 million from its B-1 in March (GM March 24, p. 28), Amogy closed its B-2 raise with $11 million extra, concluding its $150 million total Series B fundraising. The Series B-2 fundraising was joined by Marunouchi Climate Tech Growth Fund, Mitsubishi Corp., Mitsubishi Heavy Industries America, and Synergy Marine.

“This additional funding presents the rapidly increasing global interest in our technology and its potential to change the world, taking us one step closer to ammonia-driven decarbonization of heavy industries,” said Seonghoon Woo, Amogy CEO.

Amogy’s technology feeds liquid ammonia through cracking modules integrated into a hybrid fuel cell system, which powers electric motors for zero-carbon transportations, including shipping. Amogy plans to present its ammonia-powered, zero-emission tugboat in late 2023, a system that is three times larger than the system that was field-tested on the company’s ammonia-fueled semi-truck earlier this year. Upon the successful sail of the tugboat in upstate New York, Amogy intends to present its first commercial offering in 2024.

“With its ammonia-powered semi-truck and tractor, Amogy has proven that ammonia is a viable and practical option to decarbonize the maritime industry and beyond,” said Ichiro Miyoshi, CEO of Marunouchi Innovation Partners, the General Partner of Marunouchi Climate Tech Growth Fund. “As the first investment of our newly launched fund, we hope to ensure that Amogy has the resources it needs to help the shipping industry reach its goal of zero-emissions.”

Yara Opens AgTech Portfolio to Third Parties

News, News Briefs, Norway

Yara International ASA announced on June 8 that it is opening its AgTech portfolio up to third parties through the new agricultural API-solution, YaraFX Insight. The announcement was made at the 4th World Intelligent Farming Summit in Berlin, Germany.

The tool, which will now be available for integration into third-party digital platforms, makes recommendations based on Yara’s crop nutrition knowledge, global field trials, and more than 800 agronomists worldwide.

“It is crucial that we collaborate to farm more sustainably, reduce global emissions, maximize yields, and ensure that farmers can prosper,” said Victoria Pace, Vice President of Yara AgTech. “The industry is moving towards stronger collaborations with partners and building interconnectivity between digital services. Yara wants to support as many farmers around the world as possible in growing a nature positive food future, regardless of what platform they chose.”

 YaraFX Insight will enable farmers worldwide to access Yara´s portfolio of agronomic, science, and data-based tools, including crop nutrition plans, variable-rate nitrogen application maps, on-field analysis tools, and biomass monitoring maps. Yara said the offering will make it easier for farmers to improve nutrient use efficiency, crop yield, soil health, and profitability.

“We aim to cover 150 million hectares with our digital services by 2025,” said Marcus Birke, Head of Product, AgTech APIs, Yara International. “The key driver behind this is to support as many farmers as possible to improve their yields based on science and our industry leading crop nutrition knowledge. With YaraFX Insight, we enable a collaborative approach to do so within the growing AgTech industry.”

North Sea Green Ammonia Project Advances

Green Ammonia, News, News Briefs, Northeast, The Netherlands

Vision Energy Corp., an energy infrastructure company based in Jersey City, N.J., announced on June 5 that it has concluded the pre-FEED study for all Phase 1 green ammonia infrastructure at its Green Energy Hub development in the North Sea Port of Vlissingen, the Netherlands.

The company’s wholly-owned subsidiary, Evolution Terminals B.V., engaged Linde Engineering GmbH in November 2022 to undertake a pre-FEED study with the objective of defining the engineering basis for the project and forming the design concepts for the next development phase.

The engineering scope of the pre-FEED covered marine and berthing structures; storage tanks for green ammonia with LPG dual-use compatibility; a boil-off gas unit, including refrigeration; ammonia/LPG rail, truck, barge, and ship loading and unloading facilities; utility ends; and buildings and infrastructure.

As a result of the pre-FEED outcomes, Vision said key design decisions have been made regarding storage tank configurations and supporting infrastructure to ensure compliance with all applicable national and international regulatory codes, policies, and safety standards.

The company said design and engineering documents have now been issued for the process design, main equipment list, utility consumption, process descriptions and flow diagrams, HAZID and risk study reports, process and environmental safety documents, instrumentation and control concepts, electrical specification, and a detail plot plan.

Vision said it is on track for a positive final investment decision by December 2023. “In continuation of its efficient development strategy to parallel-track engineering with permitting efforts, the company is now in the process of reviewing detailed technical and commercial proposals to award the FEED, with further engineering under the FEED-scope anticipated to commence in July 2023,” the company said.

NFT Bio-Fertilizers See Positive Results in Brazil

Brazil, Israel, News, News Briefs, Specialty

Israel-based Grace Breeding Ltd., a developer of sustainable biological products to improve crop yield, on June 5 announced the results of field trials of its NFT Bio-Fertilizer in corn test plots in Paraná State, Brazil.

The tests, done in partnership with the University of Londrina (UEL), showed greater efficiency in the use of nitrogen and water and greater absorption of carbon in corn plants, the company said, confirming preliminary results from greenhouse studies reported in January. Brazil’s corn growing season typically sees reduced water availability, which Grace said makes the use of NFT especially valuable in those areas.

When applied with lower doses of nitrogen at half of the recommended rates, Grace said corn plants showed no changes in physiological and nutritional parameters, with no changes in leaf nutrient levels or the number of leaves, dry mass of shoots and roots, or stem diameter and size when compared with nitrogen applications at full rates.

“These results showing our environmentally sustainable NFT Bio-fertilizer enables robust corn growth in Brazil are exciting since Brazil has just been forecasted as the number one corn exporter, surpassing even the US,” said Assaf Dotan, CEO of Grace Breeding. “The results, initially conducted in the greenhouse and now obtained in field trials with the support of our collaborators at the University of Londrina and Gaia AgroSolutions in Brazil, further validate our technology as we get closer to being able to market in this important territory.”

“The complete results obtained from our trial with NFT are very encouraging, and we have found that the technology enhances the photosynthetic apparatus of the corn plant, increasing the carbon sequestration without the same dependency on water,” said Dr. Juliano Vilela de Resende, Agronomy Professor at UEL.

“Constant chlorophyll amounts were also observed, regardless of the nitrogen dose applied,” he added. “In addition to improving the physiological mechanism of photosynthesis, we also believe there were positive effects imparted on the soil biome – and specifically, that the technology is providing nutrients and carbon for beneficial microorganisms, such as nitrogen-fixing bacteria.”

Nano DAP Launched in India, Production Planned

DAP/MAP, India, News, News Briefs, Specialty

India’s Coromandel International Ltd. on June 3 announced the soft launch of “Nano DAP,” a nanotechnology-based fertilizer developed by its R&D center in Bombay. The company said it had conducted 700 field trials in partnership with leading agricultural universities.

“Besides its impact on improving the farm economics, Nano DAP can promote self-reliance in fertilizers and provides opportunity to meet ‘Make in India, Make for World’ vision,” said Arun Alagappan, Executive Vice Chairman of Coromandel. “We are committed to introducing novel technologies that can enhance the efficiency of agricultural solutions and improve sustainability of Indian farms.”

Coromandel received regulatory clearance for Nano DAP in March from the Department of Fertilizers. The company is setting up a Nano DAP production facility in Andhra Pradesh, which is slated to be commissioned in 2023. The product will reportedly be available in 1-litre bottles, which can supplement the nutrient needs of one acre.

“Nano DAP marks a significant step in India’s push towards achieving the Atma Nirbhar vision in fertilizers, said Arun Baroka, Secretary of the Ministry of Chemicals and Fertilizers. “We are working closely with the industry to promote its usage and positioning it as an alternate fertilizer to conventional nutrients. Its usage is expected to provide impetus to sustainable farming practices by providing site specific nutrition, minimizing wastages, and conserving water.”

Mitsubishi, WinGD Partner on Marine Ammonia

Ammonia, Japan, News, News Briefs

Tokyo-based Mitsubishi Shipbuilding Co. Ltd., a unit of Mitsubishi Heavy Industries (MHI) Group, on June 2 signed a Memorandum of Understanding (MOU) to undertake technical studies on an ammonia fuel supply system for large, low-speed, two-stroke marine engines under development by Winterthur Gas & Diesel AG (WinGD), a Swiss designer of marine engines.

The project will see WinGD applying its X-DF-A ammonia-fueled engines to a range of vessel designs and sizes, with Mitsubishi both designing the vessels and completing the fuel chain with its ammonia fuel supply system. Both companies said the MOU reflects their desire to contribute to the International Maritime Organization’s (IMO) decarbonization target for GHG emissions.

“This collaboration will give both Mitsubishi and WinGD an important first-mover advantage in using ammonia in marine engines to meet IMO decarbonization targets,” said Manabu Kawakado, Head of Marine Engineering at Mitsubishi Shipbuilding. “It will set the path for the new generation of technology applicable to a wide range of vessels over the next decades.”

The project will commence in the third quarter of 2023, according to the MOU, with a timeline that could place vessels in service by 2027.

“This project will allow WinGD and Mitsubishi to make further progress in bringing ammonia-fueled capability to merchant vessels within our established future fuel development timeframe,” said Dominik Schneiter, Vice President, R&D, at WinGD. “It is a timely opportunity to apply X-DF-A engines across a wider range of bore sizes. Our aim is to develop the applicability of these engines and their critical fuel elements across multiple vessel types, while upholding the highest standards for environmental impact and for the safety of the crew on board.”

Japan Pledges Billions to Hydrogen Energy

Hydrogen, Japan, News, News Briefs

Japan’s government on June 6 pledged $107 billion to help develop hydrogen as a renewable energy source as part of the country’s decarbonization strategy. The plan sets a target to increase the annual supply by six times from the current level to 12 million tons by 2040, while funding both private and public sources to develop hydrogen-related supply chains over the next 15 years, the Associated Press reported.

“Hydrogen is an industrial sector that can make a triple achievement of decarbonization, stable energy supply, and economic growth in one shot,” said Chief Cabinet Secretary Hirokazu Matsuno. “We will promote (hydrogen) on a large scale, both demand and supply.”

Japan has so far relied on hydrogen mainly produced using fossil fuels. The revised “green transformation” plan prioritizes nine strategic areas, the AP reported, including development of water electrolysis equipment, fuel storage batteries, and large-size tankers for transporting hydrogen.

The government is still drafting legislation to support building necessary infrastructure and supply chains for commercial use of pure hydrogen and ammonia, the AP reported.

Ammonia

Ammonia, Brazil, Eastern Cornbelt, India, Indonesia, Market Watch, Middle East, Northwestern Europe, South Central, Southern Plains, Tampa, U.S. Exports, U.S. Gulf, U.S. Imports, Western Cornbelt

US Gulf/Tampa:

Tampa ammonia continued to be pressured after June prices dropped to $340/mt CFR from May’s $380/mt CFR. Prices were down again in the Cornbelt as sidedress demand starts to wind down, and lower natural gas prices in Europe are prompting more ammonia producers to cautiously return plants to production.

US Imports:

Ammonia imports fell 11.3% in July-April, according to data compiled by the US Census Bureau, to 1.94 million st from the prior-year 2.19 million st. Imports were down 5.4% in April, slipping to 197,816 st from the year-ago 209,145 st.

US Exports:

April ammonia exports lifted 325.6%, to 91,178 st from 21,424 st in April 2022. July-April exports moved up 279.0%, to 1.13 million st from 298,835 st in the prior year.

Eastern Cornbelt:

Ammonia movement for corn sidedress was brisk in the Eastern Cornbelt and Michigan during the week. Prices continued to drift lower, with the latest offers confirmed at $410-$425/st FOB regional terminals, down from $425-$450/st FOB last week.

Most new ammonia sales were reported on a delivered basis, however, with the latest business quoted at $420-$435/st DEL in the region.

Western Cornbelt:

Sources said demand was “dwindling fast” as efforts focus on the remaining corn sidedress volumes, and prices were falling. Ammonia prices slipped to $380-$415/st FOB in the Western Cornbelt, with the low also reported for delivered offers on a spot basis. Sources said they expect the first summer fill offers for ammonia to launch in mid-June.

Southern Plains:

The latest terminal offers for ammonia in the Southern Plains slipped to $350-$415/st FOB, with the low reported at Pryor, Okla., and the high at Borger, Texas. Sources said competitive delivered pricing was netting back to lower levels at regional terminals, however. “No one needs or wants to buy right now,” commented one source.

South Central:

Truck offers for ammonia were down to $300-$305/st FOB Gulf Coast terminals in the wake of the softer Tampa price for June. Other regional terminal prices were lower as well, with the last offers out of Cherokee, Ala., pegged at the $300/st FOB level.

India:     

The price remained steady in the $290s/mt CFR. A lack of new spot deals made direct price discovery difficult, said one source, although the price does match with the estimated $200-$210/mt FOB price out of the Arab Gulf.

Middle East: 

Sources said the price from the Arab Gulf tightened to $200-$210/mt FOB, based on calculations of reported sales into Southeast Asia. Producers are all reportedly claiming to be sold out for June.

Northwest Europe:      

The lack of any new spot deals left the price in the upper-$360s/mt FOB. However, sources said a more realistic price – and one that could show up soon in deals for late June – is closer to $350/mt CFR. While talks are said to be at that lower level, no one could point to a concluded deal.

Russian material from the Baltic Sea is being shopped around with an asking price of $300/mt CFR, according to reports. Sources suggested that this extraordinarily low price is being offered because of complications involving final payment.

While the ammonia itself is not sanctioned by the US or the EU, the usual payment process can provide some difficulties because of sanctions against Russian banks and insurance companies. For example, Russian banks have been banned from using the SWIFT international payment system for its fertilizer deals. Without access to SWIFT, other methods must be found to transfer payment.

Indonesia:     

Ammonia exports from Indonesia totaled 597,000 mt for January-April, Trade Data Monitor reported, down about 8% from the year-ago 652,000 mt. April exports were 221,000 mt, up 27% from 174,000 mt in April 2022.

Brazil:

Brazil imported 120,000 mt in January-May, according to Trade Data Monitor, off 39% from 197,000 mt recorded during the same period of 2022. May imports were counted at 23,000 mt – all from Trinidad and Tobago – compared to 74,000 mt recorded one year earlier.

Ammonia exports were noted at 33,000 mt through the first five months of the year, down slightly from 34,000 mt reported last year. May exports were counted at 40 mt, all of which went to Uruguay.

Urea

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

US Gulf:

NOLA urea barge values remained under pressure. Prompt, loaded barges reportedly firmed from $310/st FOB early in the week to $330-$340/st FOB by midweek, only to fall to a reported $280/st FOB level on June 8. Full-June was generally pegged in the $260-$280/st FOB range for the week, with reports of 3Q offers in the mid-$270s/st FOB.

US Imports:

July-April urea imports softened 25.9% year-over-year, to 3.81 million st from 5.13 million st. April imports were off 21.2%, at 573,500 st compared to the year-ago 727,638 st.

July-April imports from Qatar totaled 1.07 million st, followed by Russia with 632,497 st. Saudi Arabia sent 579,783 st, beating 477,944 st from Oman.

US Exports:

Urea exports moved up 102.7% in July-April, to 1.30 million st from the year-ago 643,440 st. April cargoes were counted at 70,604 st, however, down 48.5% compared to 137,066 st reported one year earlier.

Eastern Cornbelt:

Urea slipped to $460-$490/st FOB in the Eastern Cornbelt, down from last week’s $490-$500/st FOB range. The Cincinnati, Ohio, urea market was quoted at $480-$490/st FOB for the latest offers.

Western Cornbelt:

Urea was pegged at $460-$480/st FOB in the Western Cornbelt, depending on location, with the St. Louis, Mo., market reported in the $460-$465/st FOB range, down from last week’s $485-$495/st FOB level.

Southern Plains:

Extremely tight supply kept urea prices firmly at the $495-$500/st FOB level at Catoosa/Inola, Okla., during the week, though sources said inventories were starting to recover with the arrival of barges later in the week. The market in Texas was pegged at $480-$495/st FOB, with the low at Houston and the high reported at Borger.

South Central:

Urea prices covered a wide range in the South Central region, stretching from a low of $385/st FOB Convent, La., to a high of $500/st FOB Little Rock, Ark. The Memphis, Tenn., market was pegged at $485-$495/st FOB in early June, while most Ohio River terminals in Kentucky were reported in the $460s/st FOB.

Southeast:

The latest urea offers in the Southeast slipped to $425-$435/st FOB, down from $460-$480/st at last report, with the low confirmed at Wilmington, N.C.

India:     

The Rashtriya Chemicals and Fertilizers Ltd. (RCF) urea tender closes on Monday, June 12. Sources said the entire area was focused on what will happen in the tender. As the week closed, sources continued to speculate that offer prices will land in the upper-$270s/mt CFR.

Immediately after the tender was announced last week, sources speculated that Chinese urea might dominate the tender, especially after two sales to Southeast Asian buyers dropped the price from China into the $270s/mt FOB. However, Chinese prices have since rebounded, leaving sources to speculate that no more than four cargoes might come from China. Expectations are now that the bulk of the offered product will come from Arab Gulf producers and Russia.

Sources noted reports that some Russian cargoes are being shopped around in the hopes of landing an award in the Indian tender. At the same time, Arab Gulf producers have pulled back from talking publicly about the tender. Sources said that producers have more than enough availability to cover the Indian tender.

With the price for Baltic prilled urea at $245-$263/mt FOB and freight to West Coast India around $30/mt, the price just touches the upper-$270s/mt CFR pricing expectations for the tender. With RCF looking to buy only 800,000 mt under a relatively brief shipping period, sources are convinced another tender will be called shortly after the last of the awarded tonnage is loaded to a ship.

Pakistan:       

The government of Pakistan has ordered TCP to suspend its preparations for a government-to-government deal to secure 200,000 mt of urea, according to local media reports.

At the same time the government originally authorized the deal, it also ensured natural gas supplies through December for domestic producers to supply urea for upcoming demand. At the time, estimates indicated that demand could only be met by this two-pronged approach. However, the government has now decided to analyze how much urea can be produced locally before stepping into the international market.

Black Sea:

Prilled urea came down about $20/mt, to $250-$260/mt FOB. With freight to India’s West Coast around $32/mt, the price would have to come down a bit more to meet pricing expectations in the RCF urea tender. Sources reported that Russian urea from Black Sea and Baltic ports will be offered into the Indian tender. One trader said that a number of tons may be transshipped through other countries, a common maneuver making it easier to trade the product.

While Russian urea has not been sanctioned by either the US or the EU in response to the war in Ukraine, financing the purchase of the urea poses difficulties for buyers looking to avoid possible sanctions violations. Because of the extra steps needed to safely buy the Russian product, the urea is often priced at a discount to the general market. Likewise, processing the product through a third country sometimes reduces the risks to traders and end users.

Southeast Asia:     

Sources reported a limited supply of urea available from local producers. Malaysia is coming back online, Brunei is just now beginning to offer small quantities to local buyers, and Indonesia is not offering new buying opportunities. Chinese producers have been able to step in with small cargoes of less than 10,000 mt to cover the regional demand. The sales had the effect of boosting the Chinese export price.

The lack of new sales out of Indonesia has prompted a series of rumors and speculations. Sources noted reports the government ordered a halt to urea exports until it can determine whether Kaltim and other producers agreed to more exports than allowed by the government. Some rumors even have the national attorney general’s office looking into trades made during the March-May period.

International traders said that recent selling tenders seemed to have provided opportunities for sales that exceeded the advertised amounts. One trader said his vessel had a nearly two-week wait to dock and receive the urea purchased for late-May or early-June shipment. Other vessels were said to still await their June tonnage.

Reports are circulating that the government wants to hold off on any new June sales until it is sure there are sufficient tons on hand for the domestic season. Even though the main season is now over, sources said the government is anxious to ensure enough reserves for any near-future demand.

Sources said no new selling tenders are expected until the end of the month, at the earliest. Producers and their government minders will reportedly be looking at the results of the June 12 RCF/India tender to determine their next step.

Urea exports fell 41% in January-April, Trade Data Monitor reported, to 277,000 mt from the prior-year 471,000 mt. April shipments were counted at 170,000 mt, down 37% from 268,000 mt in April 2022. The Philippines bought 38,000 mt and Chile received 33,000 mt, while the US and India each took 27,000 mt.

Middle East: 

The market has gone quiet as producers and traders calculate their offers into the RCF/India tender. Sources said producers have been willing to entertain prices at $275-$280/mt FOB. However, if current predictions for the tender’s final price come to fruition, the producers will have to shave off at least another $20/mt.

Iranian offers are now noted at $260/mt FOB for possible deals into Turkey. Other buyers are said to be facing higher prices.

Traders said the Egyptian price is hovering at $308/mt FOB. However, no deals have been confirmed at this level. Egyptian sellers have reportedly been happy making smaller sales to traders for European markets. The sales provided a steady income at levels slightly above the prevailing rates from other urea-producing areas.

China:   

Prices bounced back into the $300s/mt FOB. Prills are now said to be firmly locked in at $300/mt FOB, while the granular price was put at $310-$330/mt FOB. The rebound came after a couple of recent deals to Southeast Asian buyers prompted a dip into the $270s/mt FOB for prills, and near $300/mt FOB for granular.

Producers were said to react to reports that the lower prices would fall by at least another $20/mt in order to allow Chinese product to be competitive in the RCF/India tender. However, sources said the producers also saw that some regional buyers were interested in prompt shipments of small cargoes – mostly under 10,000 mt – and at higher prices. As a result, the producers not only moved up their pricing ideas, but also made it clear they would not entertain any bids that go below $300/mt FOB.

One trader speculated that one or two producers might break ranks to offer material in the Indian tender. At best, however, sources said that China will only supply 150,000-160,000 mt instead of the 500,000 mt discussed immediately after the tender was called.

Brazil:   

The call for an Indian tender did not excite the Brazilian market. Sources indicated the limited tonnage sought by RCF was not enough to reverse the steady drop in pricing. The landed price of urea came off slightly to $280-$290/mt CFR, while sources described new bids closer to $260/mt CFR.

The Rondonopolis price was reported steady at $420-$430/mt FOB ex-warehouse. Sources said the flat pricing came with a general feeling of malaise in the regional markets.

Trade Data Monitor put January-May urea imports at 2.4 million mt, a 6% decline from the year-ago 2.6 million mt. May imports stood at 592,000 mt, up slightly from 571,000 mt logged in the previous May. Oman and Qatar each sent about 137,000 mt, followed by Venezuela with 112,000 mt. Russia added 82,000 mt.

Ethiopia:       

Urea imports totaled 200,000 mt in January-May, according to Trade Data Monitor, risingfrom 151,000 mt reported for the same period of 2022. May imports were 50,000 mt – all from Egypt – falling from the year-ago 96,000 mt.

UAN

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

US Gulf:

NOLA UAN barges were quoted at $210-$230/st ($6.56-$7.19/unit) FOB for the last business.

US Imports:

April UAN imports firmed 115.8%, to 174,869 st from the year-ago 81,026 st. Imports stood at 2.34 million st in the July-April fertilizer year-to-date, up 51.7% from 1.54 million st.

Cargoes originating from Russia totaled 1.71 million in July-April. Canada sent 369,816 st, and Trinidad and Tobago added 217,566 st.

US Exports:

April UAN exports were noted at 102,526 st, a 41.5% increase from the year-ago 72,460 st. July-April volumes were up 372.3%, firming to 2.06 million from the prior-year 436,668 st.

Eastern Cornbelt:

The UAN-32 market was pegged at $260-$275/st ($8.13-$8.59/unit) FOB in the Eastern Cornbelt, down from last week’s $265-$290/st ($8.28-$9.38/unit), with the low confirmed at Mount Vernon, Ind. The latest UAN-28 offers were reported at $235-$240/st ($8.39-$8.57/unit) FOB Cincinnati, down from $255-$260/st ($9.11-$9.29/unit) the week before.

Western Cornbelt:

UAN-32 dropped to $245-$270/st ($7.66-$8.44/unit) FOB in the Western Cornbelt, down from last week’s $270-$300/st ($8.44-$9.38/unit) range, with the low reported for limited tons at St. Louis and the high at Port Neal, Iowa. The Muscatine, Iowa, market was pegged at the $255/st ($7.97/unit) FOB level. Sources said St. Louis tons were sold out by late on June 8.

Southern Plains:

UAN-32 was under pressure in the Southern Plains, with the latest offers quoted at $245/st ($7.66/unit) FOB Woodward, Okla., $255/st ($7.97/unit) FOB Verdigris, Okla., and $260/st ($8.13/unit) FOB Kansas terminals. Offers out of Gulf Coast terminals in Texas were pegged in the $260-$270/st ($8.13-$8.44/unit) FOB range.

As with ammonia, however, sources said aggressive delivered pricing for UAN was netting back to still-lower levels at the terminal.

South Central:

UAN-32 slipped to $245-$260/st ($7.66-$8.13/unit) FOB in the South Central region, down from $280-$300/st ($8.75-$9.38/unit) FOB at last report, with the low reported in Louisiana and the high for river terminal pricing in the Kentucky market.

Southeast:

UAN-32 pricing in the Southeast slipped to $285-$305/st ($8.91-$9.53/unit) FOB port terminals, down from $295-$310/st ($9.22-$9.69/unit) FOB in mid-May, with the low confirmed at Savannah, Ga., and the high at Wilmington. Inland terminals in Georgia were down slightly as well, but suppliers were still reportedly working through high-priced inventory.