Central Florida:
DAP trucks loading from Central Florida were posted at $800/st FOB, sources said, steady from the prior report. Sources reported MAP trucks unchanged at $830/st FOB.
Posted pricing for MAP trucks loading from North Florida softened to $820/st FOB from the $890/st FOB level reported previously.
U.S. Gulf:
Price levels ticked higher for NOLA DAP barges in a slow trading week, while MAP barges pushed down.
Most players cited the bulk of the week’s sales and offers at a $738-$745/st FOB floor for DAP, a slight move up from the week-ago $737/st FOB low. Limited volumes of domestically produced DAP were reported selling at $760/st FOB, a $5/st increase over the market’s prior $755/st FOB high.
MAP levels slipped to a maximum $765/st FOB for the current period, however, $10/st below the last-reported $775/st FOB ceiling. Pricing held steady at the prior $760/st FOB floor.
Players reported NOLA DAP barge pricing moving to $738-$760/st FOB for the trading week, above the week-ago $737-$755/st FOB. NOLA MAP barges were quoted at $760-$765/st FOB, falling from $760-$775/st FOB at last report.
U.S. Exports:
No new sales were reported in the Gulf export phosphate market during the week, leaving recent business unchanged at the last reported $910-$925/mt FOB range.
Eastern Cornbelt:
DAP pricing slipped to $800-$820/st FOB in the Eastern Cornbelt, down $10/st at the low end of the range, with MAP pegged in the $840-$850/st FOB range, down from the prior week’s $850-$860/st FOB range.
DAP pricing in the Great Lakes region was confirmed at $850/st FOB Toledo for August-September tons, while new MAP offers in the Northeast were quoted at $850/st FOB Fairless Hills for August pull, down $50/st from last report.
In the Southeast, MAP pricing from Nutrien reportedly dropped to the $820/st level FOB Aurora, N.C., and White Springs, Fla., down a full $70/st from the last $890/st FOB posting.
Western Cornbelt:
DAP slipped to $795-$825/st FOB in the Western Cornbelt, with the low confirmed at St. Louis and the high in Iowa. MAP pricing was quoted at $830-$850/st FOB in the region, with the low again reported at St. Louis.
California:
MAP pricing was steady at $900/st FOB or DEL in California, unchanged from last report.
Pacific Northwest:
MAP pricing was pegged at $870-$890/st FOB or DEL in the Pacific Northwest, depending on location.
Western Canada:
MAP was pegged at C$1,210-$1,235/mt FOB in Western Canada, depending on location and supplier, with reports of delivered tons ranging broadly at C$1,220-$1,270/mt at mid-month.
India:
Sources reported more DAP deals that moved prices. Reportedly, a handful of trades took place at $880-$890/mt CFR. The purchases showed continued price softness as Indian buyers move to take advantage of what seems to be a surplus of DAP in the market.
China:
Limited DAP availability from Chinese producers continues to plague traders looking for product. Sources said the export restrictions make it difficult for traders to offer Chinese product to Indian buyers. At the same time, these same Indian buyers are reportedly in private talks with major DAP producers.
The lack of any spot deals out of China makes nailing down an export price difficult. Sources estimated the netback to China of the recent Indian deal at $850-$860/mt FOB.
Brazil:
Prices for MAP came off at the end of the week, falling to $840-$890/mt CFR. The deals at the close of the week capped off a series of rumors, speculation, and expectations of softer prices that dominated discussion throughout the week.
Sources said low demand for MAP was bumping up against a steady flow of new product into the ports. At the same time, some buyers shifted from being loyal to one brand or another and decided instead to shop prices alone, leaving some holders of MAP looking for new customers in a down market.
Rondonopolis is now pegged at $960-$1,035/mt FOB ex-warehouse. The drift downward follows events at the Brazilian ports and with Indian buyers.