AdvanSix reports that effective immediately it is increasing the price for granular ammonium sulfate to $330/st fob river terminals on new orders in the Midwest and Plains regions. The price is up $25/st from the $305/st posted June 7. Inland warehouses will continue to be priced at traditional spreads to the river.
All posts by Steve Seay
RCF Releases Urea Prices
RCF released the prices in its urea tender. Dreymoor offered the lowest prices at $509.95/mt CFR for the East Coast and $501.96/mt CFR for the East Coast.
Tampa NH3 Moves Up $50/mt
The Tampa ammonia price for July has moved up $50/mt to $585/mt CFR from June’s $535/mt CFR. Sources had been predicting a Tampa uptick citing higher international prices.
BHP Partnership “Not Our Focus,” Says Nutrien Exec
“Today it’s not our focus,” said Nutrien Executive Vice-President of Potash Ken Seitz, when asked about potential for cooperation with BHP, in an interview reported by the National Post. “I’ll just say that everything you’ve seen is speculative and inaccurate.”
There has been much speculation that BHP, which is nearing a final decision on proceeding with its Jansen potash project, might partner with Nutrien.
Intrepid Raises Potash Postings
Intrepid Potash Inc., Denver, on June 22 announced new potash postings at all mine locations with FOB Carlsbad at $540/st for 60 percent white granular and $547/st for 62 percent white standard. New postings FOB Moab and Wendover, Utah, include $540/st for 60 percent white standard and $535/st for 60 percent white granular.
The new values represent a $90/st increase over previous values and the company said they are in response to the rapid market appreciation in the barge and inland warehouse markets. The company indicates they are sold out for the third quarter with only limited spot tons available to historical customers at the new pricing.
Nutrien Raises Guidance, Boosts K Production Again
Nutrien Ltd., Saskatoon, said June 22 that it has increased its first-half 2021 earnings guidance given the strength in global fertilizer markets and strong operational results. First-half 2021 adjusted net earnings per share (EPS) is expected to be $2.30 to $2.50, up from the previous guidance of $2.00 to $2.20.
In addition, in response to continued tightening in global potash market conditions, Nutrien plans to produce another half a million mt of potash, which is in addition to the half a million mt increase announced on June 7, 2021. As a result, it now expects to produce 1 million mt of incremental potash in 2021 compared to expectations earlier this year. The majority of the increased production is expected to occur in the fourth quarter, with some of these additional mt expected to be sold in early 2022.
JPMC Inks DAP Deal for U.S.
Jordan Phosphate Mines Co., Amman, has reached an agreement with a buyer to supply 400,000 mt of DAP to the U.S., according to a company filing to the Amman Stock Exchange. The deal will run from July 2021 to February 2022. JPMC did not disclose the name of the party or comment on the price.
Importers began bringing in Jordanian phosphates after The Mosaic Co. filed a countervailing duty case June 26, 2020.
Grains Plunge Most Since 2009
Crop futures plunged Thursday June 17 across the board, with grains notching the worst rout in a dozen years, according to Bloomberg. Soybeans wiped out this year’s gain and grains lost more ground as better weather and uncertainty over U.S. biofuel policy erodes bullish sentiment. Corn, soybean oil and canola futures all dropped by the exchange limit.
Growmark CEO to Retire
Growmark Inc., Bloomington, Ill., said June 10 that CEO Jim Spradlin has announced his intent to retire Feb. 28, 2022. He has been CEO since September 2014 and joined Growmark in 1982.
Genesis Seeks Capital Raise for Urea Plant
Farmer-owned
Genesis Fertilizers LP, Saskatoon, has launched a C$400 million capital raise
to build a $1.5 billion urea plant in Western Canada that would produce 700,000
mt/y. A site has not been selected.
In the meantime, Genesis
reports that the construction of its planned SuperCenter in Belle Plaine, Sask.
(GM Feb. 3, 2017) is now moving forward.
The company plans seven such SuperCenters across Western Canada. Genesis Grain
& Fertilizer LP, which is building the Belle Plaine facility, was formed in
2014 by Saskatoon-based Farmers of North America (FNA).