Central Florida:
Central Florida DAP trucks were posted at $620/st FOB, steady from the prior report. MAP trucks were quoted at $655/st FOB, also flat compared to one week earlier.
U.S. Gulf:
Sources described a slow week on the NOLA barge phosphate markets, noting mild softening in MAP values.
MAP pricing was noted as low as $645/st FOB for the period, slipping from the week-ago $648/st FOB floor, although most trading was reported around the $647/st FOB level. Pricing for domestic material was pegged even with the $650/st FOB prior-week high.
DAP barges were largely noted trading in a sideways direction for the period, with limited sales of domestically produced tons reported at the week’s $615/st FOB high. Most players indicated pricing at a $610/st FOB low, while import business rumored at $602-$605/st FOB went unconfirmed on July 29.
The NOLA DAP market was generally quoted in the $610-$615/st FOB range for the week, unmoved from the prior report. MAP values softened to $645-$650/st FOB from the week-ago $648-$650/st FOB.
U.S. Exports:
Sources reported a slow week for phosphate exports, noting a lack of new spot transactions. Recent DAP cargoes included a 10,000 mt load priced at $660/mt FOB, while the last reported MAP business included a 5,000 mt trade valued at $685/mt FOB. Both volumes were slated to load no later than early August, with final destinations reported as Latin America.
With no new business recorded, the Gulf DAP export market continued at $660/mt FOB, with spot MAP pricing remaining at $685/mt FOB.
Eastern Cornbelt:
DAP was quoted at $638-$655/st FOB in the Eastern Cornbelt, depending on location, with the low reported at LaSalle, Ill. MAP was pegged in the $672-$695/st FOB range in the region, with the low confirmed at East Dubuque, Ill. The Cincinnati market was quoted at $645-$650/st FOB for DAP and $685-$695/st FOB for MAP in late July.
Western Cornbelt:
DAP pricing was steady at $640-$650/st FOB in the Western Cornbelt in late July, with the lower end confirmed at St. Louis. MAP was quoted in the $672-$695/st FOB range in the region, with the low reported at Camanche. The Catoosa/Inola, Okla., market was reported at $640-$650/st FOB for DAP and $680-$700/st FOB for MAP.
Northern Plains:
DAP pricing FOB St. Paul was pegged in the $640-650/st FOB range in late July, with MAP reported at $680-$700/st FOB. Delivered green MAP was quoted solidly at the $725/st level in western North Dakota.
Northeast:
DAP prices strengthened to $660/st FOB East Liverpool, up $5/st from last report. The MAP market at East Liverpool remained at a firm $710/st FOB in early July. No phosphate tons were available at Fairless Hills in late July.
In the Southeast, MAP postings remained at $640/st FOB Aurora, N.C., but Nutrien on July 23 raised its DAP posting at that location to $650/st FOB. The company also confirmed that it is currently sold out of DAP at Aurora and not accepting any new orders for the near to medium term.
Eastern Canada:
MAP pricing firmed to C$985-$1,045/mt FOB in Eastern Canada, up C$35-$55/mt from last report. The last DAP business was reported at the C$980/mt level FOB Montreal.
Saudi Arabia:
Recent phosphate business loading from Saudi Arabia was noted firming to $590-$610/mt FOB, up $5/mt from $585-$605/mt FOB in the prior report.
China:
Reports circulated that a DAP deal with Thailand dropped the price to sub-$600/mt FOB. At the same time, producers are arguing that the limited tons they have available should be sold at $625/mt FOB.
Sources reported that Pakistan imported two cargoes of DAP at $620/mt CFR. The China-equivalent price would be no more than $570/mt FOB.
International traders are comfortable calling the market just under $600/mt FOB until more public deals come forward.
India:
The global DAP market is still too expensive for the Indian market. Sources said even with the apparent softening of some prices in the area, the imported price is higher than the maximum retail price (MRP) allowed by law.
The Pakistan purchase of two DAP cargoes at $620/mt CFR could be priced into India at $600-$610/mt CFR. The MRP is closer to $570/mt CFR. Sources said there are rumors the government is discussing raising the MRP for phosphates, but no definitive move has been made so far.
Brazil:
The Paranagua MAP price showed a slight dip at the lower end of the previous range, slipping to $740-$770/mt FOB. Traders said the drop in pricing might be an indicator that MAP prices have reached their peak.
The Rondonopolis price is also off. Sources now call the market $822-$850/mt FOB ex-warehouse, down from the mid-$850s/mt FOB from last week.Barter rates for 1 mt of MAP are reported at 60 bags of corn and 26 bags of soy.