Early week trades at NOLA for prompt granular urea are being put in the $180-$197/st FOB range, according to sources, down from the week-ago $196-$220/st FOB.

Indian Farmers Fertiliser Cooperative Ltd. has shut parts of its giant phosphate fertilizer complex at the coastal city of Paradip in eastern Indian state of Odisha amid forecast of a cyclonic storm over Bay of Bengal, according to Bloomberg, citing a company spokesman. DAP and phosphoric acid production was halted, as where shipments as the company sought to evacuate as many employees as possible.

The power plant and sulfuric acid plants were reported to have continued operations to ensure uninterrupted power supply.

Industry veterans Jerry and Joe Newcomb, have joined forces to form a new fertilizer company, NeuAg LLC, which they report has entered into a long-term contract with BASF to exclusively market and distribute BASF’s ammonium sulfate production at their Freeport, Texas, facility.

More details about the deal were not immediately available, including start date, quantity, etc., however, more information is expected to be released in coming weeks.

American Plant Food Corp., Galena Park, Texas, has been the long-time marketer of the BASF ammonium sulfate. BASF AS capacity has been put at 710,000 st/y.

The Newcomb’s have been partners in Truth Industries, The Woodlands, Texas. In 2017, The Plaza Group, an international petrochemical marketing firm, acquired Truth Chemical, which featured a portfolio of chemicals, fertilizers, and specialty products. NeuAG is a separate entity from Truth and Plaza.

Canpotex has agreed a new potash supply contract with its long-term customer, Indian Potash Ltd., at a price of $230/mt CFR with 180 days’ credit for potash shipments through to Dec. 31, 2020, the potash export organization said in a statement. The agreed price is a $50/mt reduction on the previous contract price with India, concluded at $280/mt CFR with 180 days’ credit last October. Canpotex is the first supplier to reach a new supply contract with India.

Canpotex also confirmed it has agreed new supply contracts with its traditional customers in China for potash shipments up to Oct. 31. It said the selling prices under these contracts “reflect prevailing market conditions.”

BPC negotiated a new contract price of $220/mt CFR with Chinese buyers, Sinochem, CNAMPGC, and CNOOC, for seaborne deliveries in 2020, and was the first supplier to settle. ICL subsequently agreed new supply contracts with its Chinese customers at the same price.

MMTC has awarded just under 600,000 mt from its May 7 urea tender. Traders have until May 12 to respond to the buyer’s bids of $226.81/mt CFR for West Coast deliveries and $231.90/mt CFR for East Coast deliveries.

CVR Partners LP, Sugar Land, Texas, reported a first-quarter net loss of $21 million on sales of $75 million, versus the year-ago loss of $6 million and $91.9 million, respectively. Overall, the company reported lower prices for its main products—UAN and ammonia. While total sales volumes were up, ammonia volumes increased to 54,000 st from the year-ago 36,000 st, while UAN was off slightly at 284,000 st from 288,000 st.

Nutrien Ltd., Saskatoon, reported a first-quarter loss of $35 million, surpassing Wall Street analyst average expectations of a $6.5 million loss. The company reported year-ago net income of $41 million. Nutrien, however, reported net sales of $4.2 billion, up from Wall Street’s $3.45 billion forecast. Year-ago sales were $3.7 billion.

Intrepid Potash Inc., Denver, reported a first-quarter net loss of $7.4 million on sales of $64 million, compared to a year-ago net income of $6.1 million and $57.5 million, respectively. The company said the loss was driven by a one-time litigation settlement. The company reported the accrual of a $10 million settlement payment related to litigation with The Mosaic Co., which was partially offset by a gain of $4.7 million on the restricted sale of 320 acres of fee land at the Intrepid South property.

Intrepid Potash Inc., Denver, reported May 6 that it received a $10 million loan under the CARES (U.S. Coronavirus Aid, Relief and Economic Security Act) Paycheck Protection Program. It said it will only use the money to fund payroll and other eligible expenses and expects the majority of the loan will be forgiven pursuant to the currently guidelines of the CARES Act.

LSB Industries Inc., Oklahoma City, reported a net loss of $19.4 million on sales of $83.4 million, compared to the year-ago loss of $11.5 million and $94.1 million, respectively. The company cited lower prices for all of its major agricultural product categories, an oversupply of ammonia and increased imports of some downstream products.