Central Florida:
Posted prices on DAP trucks loading from Central Florida continued at $650/st FOB, steady from the prior report. Truck-loaded MAP was also called $650/st FOB, unchanged from one week earlier.
North Florida-loading MAP truck postings softened to $650/st FOB for the week, down from $700/st FOB.
US Gulf:
Sources noted firming values on the DAP barge market, while MAP pricing battled for direction.
NOLA DAP barges were noted starting out the Jan. 13-19 trading week at a $628/st FOB low for tons loading in January and February, a rise from the week-ago $620/st FOB bottom, while offers from domestic producers were clocked at $635/st FOB. Prices quickly firmed, however, with players confirming trades up to $648-$650/st FOB by the end of the week. Producer offers on Jan. 19 were quoted at $645/st FOB, while DAP trades rumored at $625/st FOB went unconfirmed.
Players confirmed NOLA MAP business as high as $618/st FOB, increasing from the prior-week $610/st FOB top. Imported tons were seen trading at a $595/st FOB floor, a $10/st week-over-week slide from $605/st FOB.
Players attributed the DAP market’s ongoing firmness to limited supply. “DAP is currently very tight in the market,” said one trader. “Of the imports coming in, 75% is MAP, and (domestic producers are) tight as well.”
NOLA DAP barges loading in January and February firmed to a $628-$650/st FOB range for the week, up from $620-$625/st FOB in the prior report. MAP barges shifted to $595-$618/st FOB, a change from the week-ago $605-$610/st FOB.
US Exports:
Last-reported US Gulf spot export pricing continued at $650/mt FOB, steady from the prior report. Recent spot business included a 5,000 mt MAP cargo sold into a single destination in northern Latin America, with shipping scheduled for late January.
Eastern Cornbelt:
DAP prices were quoted at $685-$695/st FOB in the Eastern Cornbelt, with the Cincinnati market pegged at the $690/st FOB level, up $5-$10/st from last week. MAP pricing remained at $675-$685/st FOB in the region, with the low at Cincinnati.
In the Southeast, Nutrien lowered its MAP posting to $650/st FOB Aurora, N.C., and White Springs, Fla., reflecting a $50/st drop.
Western Cornbelt:
DAP pricing edged up to $685-$695/st FOB in the Western Cornbelt, with the high in Iowa. The St. Louis market DAP market was quoted at $685-$690/st FOB, reflecting a $15/st increase from last week. MAP remained at $670-$680/st FOB in the region.
In the Northern Plains, the latest DAP offers at St. Paul were pegged in the $705-$715/st FOB range, up from recent lows at the $690/st FOB level.
California:
MAP postings in California remained at $835/st FOB or DEL, though sources reported spot rail-DEL offers for as low as $790/st at mid-month.
Pacific Northwest:
MAP pricing in the Pacific Northwest slipped to $770-$780/st FOB or DEL, depending on location, down from $815-$825/st at last report.
Western Canada:
MAP pricing in Western Canada reportedly dropped to C$1,110-$1,130/mt FOB for January-February, down from the C$1,135-$1,180/mt FOB range confirmed for earlier December-January offers. Rail-DEL offers were reported at nearly the same level as the FOB market.
China:
There were reports of a prompt DAP sale to Indonesia at $680/mt CFR, for an estimated netback in the low-$660s/mt FOB. Even with the reported deal, most international traders reported having a hard time getting offers from producers, whose main focus seems to remain on doing business directly with large-scale buyers.
India:
NFL called a DAP tender set to close on Feb. 1. The tender is for 100,000 mt, with the tonnage to be divided into two lots – one delivered to the East Coast, and one to the West Coast. The shipping deadline is March 15.
The tender marks the first spot deal for an Indian buyer separate from the direct, quiet talks that major buyers have had with Chinese producers. In the past, tenders such these have been used to test the market to set prices for future contract talks.
Brazil:
Prices for MAP fluctuated mildly, with the landed price coming in at $650-$670/mt CFR. Sources said the slight rise in price came as Chinese suppliers began asking for higher prices.
Rondonopolis reported softer MAP prices at $755-$800/mt FOB ex-warehouse. Farmers are reportedly holding off on the last of their 2023/2024 orders in the hope that they will be able to secure lower prices closer to when they will actually need the tons.