Central Florida:
Central Florida DAP trucks were reported firming to $595/st FOB for the week, increasing from $590/mt FOB in the prior report. Truck-loaded MAP postings climbed to $630/st FOB, up from $615/st FOB posted previously.
U.S. Gulf:
A reported quiet week of NOLA phosphate barge trading did little to slow the market’s continued upward momentum, sources said.
Prices of DAP and MAP firmed despite the reduced trade volume, with DAP barges lifting to a $590/st FOB high from the week-ago top of $585/st FOB. Imports offered and traded early in the week were even with the week-ago $580/st FOB floor, but offers lifted to $595/st FOB on June 3, sources said.
A rumored DAP barge trade at $596/st FOB remained unverified on June 3, although sources confirmed DAP paper trading at “higher and higher” levels for July and August.
Propelled by ongoing supply woes, MAP barges made larger strides, firming to a reported $630/st FOB floor from the prior week’s $610/st FOB. Sources noted concluded pricing up to $645/st FOB, up $10/st from the week-ago top.
The NOLA DAP market was quoted in the $580-$590/st FOB range for the week, rising from $580-$585/st FOB in the prior report. MAP lifted to $630-$645/st FOB, up from $610-$635/st FOB.
U.S. Exports:
Despite a lack of new reported spot cargoes loading from the U.S. Gulf, sources noted export price ideas firming to a minimum $590-$595/mt FOB based on recent increases in the Latin American markets. Additional firming could be expected, sources said, should the international markets continue on their current trajectory. Gulf exports were previously published at $583/mt FOB.
Eastern Cornbelt:
Phosphate prices continued to firm in the Eastern Cornbelt. DAP was pegged in the $630-$650/st FOB range, up $10/st at the higher end, with the Cincinnati market quoted at $635-$645/st FOB. MAP edged up to $660-$680/st FOB in early June, also up $10/st at the high end of the range, with the Cincinnati market pegged at $665-$675/st FOB.
Western Cornbelt:
DAP and MAP prices continued to strengthen in the Western Cornbelt, with the DAP market pegged at $620-$630/st FOB, up another $5/st from last report.
MAP was quoted at $650-$675/st FOB in the Western Cornbelt, up $10/st at the top of the range, with both the high and low reported at St. Louis as the week progressed. The Camanche MAP market was reported solidly at the $665/st FOB level for new offers.
The St. Paul, Minn., market was reported at $625-$630/st FOB for DAP and $650-$686/st FOB for MAP, with MAP pricing up some $20/st at the high end of the range.
Southern Plains:
While the low end of the Southern Plains DAP market remained at $615/st FOB Houston, sources pegged the Catoosa/Inola range significantly higher at $625-$645/st FOB.
The MAP range was even wider, stretching from a low of $630/st FOB Houston to a high of $680-$685/st FOB Catoosa/Inola. Sources said the Catoosa/Inola MAP market started the week at the $650/st FOB level before climbing into the low-$680s/st FOB for confirmed sales.
South Central:
The phosphate market continued to strengthen in the South Central region. DAP was quoted at $610-$630/st FOB regional terminals, up $15-$30/st from last report, with the low at Memphis and the high at Shreveport. Pricing out of Little Rock was quoted firmly at the $625/st FOB level at midweek.
Southeast:
Nutrien’s prices at Aurora, N.C., remained at $605/st FOB for both DAP and MAP. The company confirmed that Aurora is currently on an annual acid plant turnaround from late-May into June, which is normally done in advance of a June liquid program.
Saudi Arabia:
Phosphates produced in Saudi Arabia continued to be reported in the $545-$565/mt FOB range, unmoved from the previous week.
China:
The price for DAP remains in the upper-$540s/mt FOB. However, that is expected to shift as demand appears to be picking up in India, Pakistan, and Latin America. Sources said producers are now saying bids can’t be lower than $550/mt FOB, but no one is biting so far.
A reported deal into Pakistan at $583/mt CFR to multiple buyers appears to back up a price level just under $550/mt FOB.
India:
Sources are reporting a DAP deal between an Indian buyer and OCP/Morocco at $573/mt CFR. This price would match up with the current Chinese DAP price in the $540s/mt FOB. Buyers are slowly beginning to prepare for more DAP purchases, and sources expect to see more inquiries coming soon.
Bangladesh:
A BCIC tender closed on June 3 for 700,000 mt of DAP to be shipped between July and October. The buyer wanted the material in 40,000 mt lots spread out over the four months.
The company received about 50 offers. Rather than take a counterbid off the lowest offer for just one price, BCIC works its way up the offers until it achieves the desired tonnage. In this case, after 18 offers, BCIC achieved 720,000 mt with prices ranging from $585.89-$599.42/mt CFR. The bulk of the offers appear to come from Chinese suppliers.
| Offering Company | Quantity (mt) | US$/mt CFR bagged | Origin |
| Bongo Traders Ltd | 40,000 | 585.89 | China |
| Asia One Trading Co. | 40,000 | 588.13 | China |
| Direct Trading Co. Ltd | 40,000 | 588.85 | China |
| Daily Trading Co. Ltd. | 40,000 | 589.16 | China |
| OF Ent. | 40,000 | 593.40 | China |
| Uttara Trade Ltd. | 40,000 | 595.25 | |
| Rafiqul Islam | 40,000 | 598.25 | |
| NH Trade | 40,000 | 598.40 | China/Jordan |
| Mosharaf & Brothers | 40,000 | 598.67 | |
| Araiging Trade | 40,000 | 598.90 | |
| Sun Shing Ltd | 40,000 | 598.90 | |
| Afroze Trade Agency | 40,000 | 599.00 | China |
| Desh Trading | 40,000 | 599.10 | China-Morocco-Jordan |
| Bulk Trade | 40,000 | 599.20 | China |
| Nazneen | 40,000 | 599.25 | China |
| Asfaq Enterprise | 40,000 | 599.30 | |
| Millennium | 40,000 | 599.40 | China/Jordan |
| Rafi Enterprise | 40,000 | 599.42 |
Brazil:
MAP prices in Brazil picked up as supply dwindled. Sources in Brazil called the market $660-$680/mt CFR, up about $20/mt from last week. European traders agreed the price went up at Paranagua, but capped the upper end of the range at $670/mt FOB. Traders around the globe agreed that sellers were pushing for $700/mt CFR and will probably get it soon.
All the excitement in pricing was in the port cities. Sources reported the Rondonopolis MAP market steady at $730-$760/mt FOB ex-warehouse, with most of the activity at the upper end of the range. Sources said limited sales accounted for the lackluster movement in prices.