Central Florida:
Central Florida DAP truck postings softened to $765/st FOB for the week, down $5/st from $770/st FOB in the prior report. MAP trucks also moved down from their prior $790/st FOB level, dropping to $785/st FOB.
MAP trucks loading from North Florida continued to see offers at $820/st FOB, sources said.
US Gulf:
NOLA barge phosphate values were seen lifting from the week-ago.
DAP barge pricing was reported moving up to a $760/st FOB floor, a $15/st increase from the prior $745/st FOB, while players continued to note the market topping out at $765/st FOB, unmoved from the weak-ago ceiling. DAP offers from domestic producers were reported at $765/st FOB.
MAP barges firmed to $780/st FOB at the low, up from last week’s $770/st, but held their week-ago top at $785/st FOB. Domestic producers were noted offering NOLA MAP at $785/st FOB on Sept. 6.
Domestic producers continued to describe tight supply for barges loading in the third quarter.
The nearby DAP barge price was reported in the $760-$765/st FOB range, above the prior week’s $745-$765/st FOB. MAP moved up as well, posting values in the $780-$785/st FOB range, up from $770-$785/st FOB at last report.
US Exports:
With no new trades or offers reported for the week, last-done Gulf exports continued to be noted at $910-$925/mt FOB.
Eastern Cornbelt:
Fueled by firming NOLA barge values, DAP pricing inched up to $805-$810/st FOB in the Eastern Cornbelt, with MAP pegged at $820-$830/st FOB in the region. Cincinnati pricing was pegged at $805-$810/st FOB for DAP and $825-$830/st FOB for MAP at midweek.
Western Cornbelt:
DAP was pegged at $800-$810/st FOB in the Western Cornbelt, with the low reported at St. Louis and reflecting a slight increase from the previous week. MAP pricing fell in the $820-$830/st FOB range, up from $810-$825/st FOB the week before, with the St. Louis market reported at $820-$825/st FOB.
California:
MAP remained at $900/st FOB or DEL in California, unchanged from last report, although some sources suggested there was “flexibility” in the market in early September.
Pacific Northwest:
The MAP market was steady at $870-$890/st FOB or DEL in the Pacific Northwest, depending on location.
Western Canada:
MAP was pegged in a wide range at C$1,220-$1,280/mt FOB in Western Canada, up from the previous C$1,210-$1,235/mt range, with reports of delivered tons in a much tighter range at C$1,225-$1,235/mt at mid-month.
China:
The DAP market remained quiet. Sources reported no new movement of material or new request for tons. Product moving out at this time is tied to earlier deals between producers and buyers in India.
India:
The recent deal with OCP for multiple cargoes appears to have allowed Indian buyers to take a break. Sources reported no new inquires for DAP.
Brazil:
Limited interest in MAP and the occasional top-off purchase pushed prices down to $740-$820/mt CFR. Sources reported that an oversupply of MAP is allowing buyers to sit back and wait until they need the product instead of making too many forward deals.
Even with an oversupply situation, sources said they expect to see Russia and Morocco step up their marketing to secure stronger portions of the MAP market. According to Trade Data Monitor, Russia already controls 44% of the import market this year. Morocco and Saudi Arabia each have another 26% of the market.
The Rondonopolis MAP price softened slightly to $870-$960/mt FOB ex-warehouse. Sources said the purchases appeared to be hand-to-mouth rather than any advance buying.
January-August 2022 imports were reported at 3.1 million mt by Trade Data Monitor, up slightly from the 3 million mt imported during the same period in 2021. Russian MAP imports in the first eight months of 2022 were reported at 1.4 million mt, a 40% increase from the same period in 2021. Saudi imports were also up 24%, to 489,000 mt. Moroccan imports dropped 31% to 825,000 mt during the first eight months of the year.
August 2022 imports were reported at 539,000 mt. up 25% from the 405,000 mt imported in August 2021.