All posts by mickeybarb@charter.net

Ammonium Polyphosphate

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

Eastern Cornbelt:

The most recent 10-34-0 offers were reported at $800-$850/st FOB in the Eastern Cornbelt.

Western Cornbelt:

10-34-0 prices slipped to a reported range of $800-$830/st FOB in the Western Cornbelt for the last offers.

Northern Plains:

10-34-0 pricing reportedly dropped to a low of $800/st FOB in North Dakota, down significantly from the last confirmed $900-$910/st FOB prompt spring offers.

Northeast:

New 10-34-0 offers in the Northeast were quoted at $850/st FOB terminals in upstate New York, down $50/st from last report.

Muriate of Potash

Brazil, China, Eastern Canada, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, Potash Muriate, U.S. Gulf, Western Cornbelt

U.S. Gulf:

NOLA potash barges continued to be called $740-$770/st FOB, though some players said it was getting harder to find the lower end of the range.

Eastern Cornbelt:

Potash remained at $770-$790/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged at $785/st FOB during the week. The last quote for white potash in Michigan was reported at the $808/st FOB level. “There is very lackluster demand for potash right now,” commented one source.

Western Cornbelt:

Potash pricing was unchanged at $770-$790/st FOB in the Western Cornbelt, depending on location, with the low reported at St. Louis.

Northern Plains:

Sources quoted potash pricing at $780-$795/st FOB St. Paul for the last prompt offers. The latest prices FOB Saskatchewan mines for 2Q tons were reported at $728-$740/st after netbacks, depending on grade and destination.

Northeast:

Potash pricing was reported in the $785-$800/st FOB range in the Northeast.

Eastern Canada:

The potash market in Eastern Canada remained at C$1,050-$1,056/mt FOB warehouses, unchanged from early June levels.

China:

January-May 2022 imports of MOP were reported at 3.5 million mt by Trade Data Monitor, down from the 4.1 million mt imported during the same period 2021. The usual three large suppliers – Russia, Belarus, and Canada – accounted for 2.7 million mt of the imports.

May 2022 imports were down slightly at 543,000 mt from the 554,000 mt imported in May 2021. Canada accounted for 38% of the May imports with 208,000 mt; Russia for 28% with 150,000 mt; Belarus for 18% with 95,000 mt; and Laos for 12% with 65,000 mt. These four countries accounted for 95.5% of all MOP imports in May 2022.

Brazil:

The MOP price range in Brazil tightened as suppliers pushed back against buyers looking for bargains. Sources put the landed price at $1,050-$1,100/mt CFR.

Sellers noted that while they are anxious to move tons out of their warehouses, they remain uncertain about where they will get replacement tons. Sanctions against Belarus and Russia hang over the market, with buyers facing a number of uncertainties about future tons.

The price in Rondonópolis has tightened to $1,190-$1,205/mt FOB ex-warehouse.

Sulfur

ADNOC - Abu Dhabi, Alberta, Brazil, China, Market Watch, Qatar, Sulfur, Tampa, U.S. Gulf, Vancouver, West Coast

Tampa:

PBF Energy restarted the 94,000 barrel/d crude distillation unit (CDU) at the company’s Toledo, Ohio, refinery on June 16, Genscape reported. The unit was reported going offline earlier the same morning.

Players continued to cite expectations of softening in the third-quarter contract price of molten sulfur delivered to Tampa. Most anticipated a possible $20-$50/lt decline from the second-quarter $481/lt CFR contract price.

Due to a delay in weekly data released by the U.S. Energy Information Administration, refinery capacity utilization and crude oil input data was unavailable at press time.

U.S. Gulf:

The Motiva Port Arthur, Texas, refinery on June 20 suffered the unplanned shutdown of an 88,000 barrel/d fluidic catalytic cracking unit (FCC), according to a TCEQ filing reported by Genscape. The unit began restart procedures the same morning, and was reported returning to normal operation on the afternoon of June 21.

Following a shutdown on June 13, ExxonMobil Corp. restarted the 225,000 barrel/d crude section at its Baton Rouge, La., facility on June 21.

All units at the Valero Houston, Texas, plant were noted at normal operational levels on June 21 after Genscape detected a June 20 burst of emissions consistent with a fire.

A 35,000 mt cargo was reported concluding out of the Gulf on June 23. Destined into the Brazil market, the load was expected to load promptly from Beaumont, Texas. Combined with early-week trades and indications, the full-week Gulf market was noted in a wide $420-$460/mt FOB range, falling from $470-$475/mt FOB reported previously.

Brazil:

Pricing on cargoes sold into Brazil was reported softening to a wide $458-$500/mt CFR for the full week, declining from the week-ago $515-$520/mt CFR. Among the cargoes targeted to Brazil was a $420/mt FOB vessel loading from the U.S. Gulf, with freight projected to land around the $38-$40/mt mark.

Players attributed the falling prices to plentiful supply both internationally and in the U.S. Gulf, combined with general softening of international sentiment.

Second-quarter solid sulfur contracts were quoted in the $480-$485/mt CFR range.

Vancouver:

Vancouver solid sulfur cargoes were heard slipping to $440-$450/mt FOB due to lower pricing reported out of China. The market was previously pegged at $470-$475/mt FOB.

Alberta:

Alberta netbacks reportedly remained at $366-$411/mt FOB, steady from week-ago levels. The range included both molten material contracted into the U.S. market and solid tons exported through the Vancouver offshore market.

West Coast:

A planned turnaround set to run through the end of July saw multiple units shut on June 18 at the Chevron Corp. facility in Richmond, Calif., Genscape reported. Among the units observed going offline were a 257,000 barrel/d CDU, a 124,000 barrel/d vacuum distillation unit (VDU), and a 58,000 barrel/d hydrotreater. A 65,000 barrel/d hydrotreater and a 28,000 barrel/d catalytic reformer were powered down on June 17.

West Coast prill indications followed Vancouver down to the $440-$450/mt FOB range, below $470-$475/mt FOB at last report.

Second-quarter molten sulfur contracts were noted at $375-$390/lt FOB, higher than $230-$245/lt FOB in Q1.

China:

Players noted the China import sulfur market sinking to a general $480-$490/mt CFR range through the week, below $520/mt CFR reported previously.

ADNOC:

Sulfur cargoes were reportedly offered at $480/mt FOB Ruwais by the Abu Dhabi National Oil Co. for June.

Qatar:

Qatar prills were posted at $490/mt FOB Ras Laffan for June loading. Lower pricing was expected in the next round of business.

Sulfuric Acid

Brazil, Chile, Gulf Coast, India, Market Watch, Midwest, Sulfuric Acid, U.S. Gulf

U.S. Gulf:

Recent Gulf import sulfuric acid price slipped to the $260-$270/mt CFR range for the week, players reported, a decline from the last reported $270-$280/mt CFR level.

Gulf Coast:

Gulf Coast-delivered sulfuric acid contracts were reported in a wide $195-$280/st DEL range for 2022 agreements.

Midwest:

The 2022 Midwest market was reported even with the Gulf at $195-$280/st DEL.

West Coast:

Sources reported the West Coast market at $185-$270/st DEL for 2022 annual contracts.

Brazil:

Last-done at Brazil remained in the $280-$285/mt CFR range.

Chile:

Chile state-owned copper producer Codelco on June 17 said it would permanently shut its Ventanas smelter, Reuters reported, following an environmental incident that left dozens sick and the threat of a workers strike should Codelco fail to invest in upgrades to the plant.

The Federation of Copper Workers (FTC) has argued that the plant requires a $53 million investment for gas-collecting capsules to modernize the facility and bring it into environmental compliance. The company reportedly responded that any such upgrades would be equal to the cost of building a new facility entirely.

The FTC on June 18 said it would prepare for a national strike in response to the announcement of the facility’s reported closure, without offering any details. Codelco is the world’s largest copper producer.

India:

More than four years after permanently shuttering the Sterlite Copper smelter, located in India’s southern Tamil Nadu state, Vedanta has listed the mothballed facility for sale, The Economic Times reported. Sterlite was ordered to permanently halt operations in 2018 after police opened fire on a group protesting alleged environmental violations at the plant, killing 13.

The closure of the facility, capable of producing 1.2 million mt/y of sulfuric acid, 230,000 mt/y of phosphoric acid, and 400,000 mt/y of copper cathode, significantly altered the fundamentals of India’s sulfuric acid and phosphoric acid markets.

Vedanta has been locked in an ongoing battle with the country’s Supreme Court to reopen the facility, but has made little progress in that effort.

Ammonium Thiosulfate

Amthio, Eastern Canada, Eastern Cornbelt, Market Watch, Northern Plains, Specialty, Western Cornbelt

Eastern Cornbelt:

The ammonium thiosulfate market was reported at $625-$675/st FOB in the Eastern Cornbelt, with the low confirmed in Illinois and the high at Cincinnati.

Western Cornbelt:

Ammonium thiosulfate pricing was quoted at $625-$675/st FOB in the Western Cornbelt, depending on location.

Northern Plains:

Ammonium thiosulfate pricing remained at $640/st FOB in central and eastern North Dakota in late June, unchanged from last report.

Eastern Canada:

The ammonium thiosulfate market was unchanged at C$879-$970/mt FOB in Eastern Canada, depending on location and supplier.

Crops/Weather

Crops/Weather, Eastern Canada, Eastern Cornbelt, Market Watch, Northeast, Northern Plains, Western Cornbelt

Eastern Cornbelt:

US Drought Monitor

High heat and humidity, along with scattered afternoon showers, was the theme for much of the Eastern Cornbelt during the week.

Temperatures reached the upper-90s across northern and central Illinois at midweek, with some locations pushing into the triple digits on June 21. Highs in the mid-90s were reported at Indianapolis, Ind., and forecasts warned of “flash drought” conditions emerging in central Indiana due to a two-inch rainfall deficit since the start of June.

Spotty thunderstorms tracked through northern Ohio at midweek, followed by building heat and humidity as the week progressed.

With 88-97% of the regional corn crop now emerged, USDA assigned good or excellent ratings on June 19 to 71% of the acreage in Illinois, 70% in Indiana, and 58% in Ohio. Soybean planting was 90-98% complete by that date, with emergence estimated at 93% in Illinois, 89% in Indiana, and 74% in Ohio.

Western Cornbelt:

Corn Wheat Soybean Index

High heat was reported across Iowa during the week, with spotty showers limited to the southwestern area of the state.

Temperatures in Nebraska pushed well into the 80s and low-90s at midweek, but an increased chance of rain and potentially severe weather was in store as the week progressed. Triple-digit heat index readings were common across Missouri as well, with some parts of the state recording a two-inch rainfall deficit for the month of June so far.

Corn emergence was 97-98% complete in the Western Cornbelt by June 19, with good or excellent ratings assigned to 83% of the acreage in Iowa, 70% in Missouri, and 68% in Nebraska. The regional soybean crop was 85-100% planted and 69-94% emerged, with 60-80% of the acreage rated as good or excellent.

Missouri’s cotton crop was 98% planted by June 19, with sorghum planting estimated at 95% complete in Nebraska. Good or excellent ratings were assigned to 62% of Missouri’s cotton and 67% of the state’s rice acreage.

Northern Plains:

Heat and humidity sparked thunderstorms across Minnesota during the week, with forecasts warning of potentially severe weather for the Twin Cities area and much of central Minnesota on June 23-24.

Multiple rounds of severe weather moved through parts of North Dakota on June 19-20, and a heat advisory was issued on June 20 for eastern South Dakota and southern Minnesota. Recent rains and flooding have delayed the completion of planting in parts of eastern South Dakota.

Northern Plains growers had 98-100% of the spring wheat, 92-98% of the soybeans, and 83% of the sunflowers planted as of June 19, while sorghum planting in South Dakota had progressed to 86% complete by that date. Good or excellent ratings were assigned to 79% of South Dakota’s corn crop, compared with 65-69% in Minnesota and North Dakota.

Northeast:

Much of New England enjoyed temperatures in the 70s and scattered afternoon showers for most of the week, but a blast of heat and humidity was on tap for the weekend, with forecasts warning of highs in the 80s and low-90s.

Steady rain was reported in the tri-state area during the week, with some parts of New York, Connecticut, and New Jersey reportedly picking up 3-5 inches of precipitation. Strong thunderstorms and heavy rain were also reported in Pennsylvania, prompting flood watches for several communities at midweek.

With 70% of the corn crop emerged in Pennsylvania, USDA assigned good or excellent ratings to fully 91% of the acreage on June 19. Sources described sidedress/topdress demand in the region as “fairly strong right now.”

Eastern Canada:

High heat and humidity were reported across much of Ontario and Quebec during the week, with strong thunderstorms expected late in the week.

Temperature records were set in Toronto on June 21-22 as humidex levels exceeded 40 C in many areas. The sweltering heat sparked severe thunderstorms on June 22-23, prompting some local flood watches in Ontario and dropping 2-3 inches of rain in Montreal.

Parts of the Maritimes were also bracing for precipitation as the week progressed. Forecasts warned of more than two inches of rain in eastern Nova Scotia by the end of the week, with Prince Edward Island expecting a half-inch to an inch.