Central Florida:
Central Florida DAP and MAP trucks were posted at $630/st FOB, unchanged from one week earlier.
Truck-loaded MAP was reported at $630/st FOB from North Florida, also flat compared to the prior report.
US Gulf:
Sources noted stagnant pricing in the NOLA barge MAP market, while DAP prices edged lower.
Multiple trades of domestically-produced DAP were reported at $610-$615/st FOB, on par with the top of the week-ago range. At the same time, players noted import transactions slipping below the prior-week $600/st floor in a $595-$605/st FOB range. Offers for domestic DAP were unchanged at $610/st FOB on March 9.
Sources described a slow MAP market. Offers for domestically-produced tons continued at $575, steady from last week, while limited early-week trading was reported even with the previous $555/st FOB bottom. Some believed the lower prices were no longer available by the end of the week, however. “I don’t think I could buy better than $560-$565/st FOB now,” said one source on March 9. “The market has firmed up a bit.”
DAP barge pricing was reported in a $595-$615/st FOB range, off from $600-$615/st FOB at last check. Minimal MAP trading resulted in a rollover from the week-ago $555-$575/st FOB range, sources said.
US Exports:
Mosaic reported a 6,000 mt DAP sale priced at $635/mt FOB. The cargo, slated to load in second-half March, was destined for a single location in northern Latin America. The Gulf export market was previously reported at $650/mt FOB.
Eastern Cornbelt:
DAP reportedly firmed to $670-$680/st FOB Cincinnati and other Eastern Cornbelt river terminals, up from a recent low of $660/st FOB. “Seems like DAP supply is snug until we get to April for more barge arrivals,” said one contact.
MAP dropped to $625-$635/st FOB Cincinnati, down from $650-$660/st FOB, with the upper end of the regional market pegged at the $650/st FOB level. MAP pricing in the Great Lakes region slipped to $650-$675/st FOB, depending on location and time of shipment, below the prior $670-$680/st FOB range.
Western Cornbelt:
DAP was quoted at $660-$675/st FOB in the Western Cornbelt, up slightly from the previous week, with the St. Louis market reported at $660-$670/st FOB, up from $640-$660/st FOB. MAP remained at $620-$660/st FOB in the region, with the low confirmed at St. Louis.
Northern Plains:
Phosphate pricing FOB St. Paul was reported at $690/st FOB for DAP and $665/st FOB for MAP. Brown MAP fell to $660/st FOB for spot tons in North Dakota, with green MAP pegged at the $760/st DEL level to points in western North Dakota.
Northeast:
The DAP market dropped to $675-$690/st FOB in the Northeast, with the low confirmed at Fairless Hills and the high at East Liverpool. MAP remained at the $670/st level FOB East Liverpool in early March.
Eastern Canada:
DAP was quoted at the C$1,010/mt FOB level in Montreal, down C$80/mt from last report. MAP prices dropped to a wide C$1,020-$1,280/mt FOB range in early March, depending on location and supplier.
China:
Reports of a 50,000 mt DAP sale to India’s National Fertilizers Ltd. (NFL) at $625/mt CFR led sources to estimate the netback at $600-$615/mt FOB. Sources also noted the price ex-plant at $580-$600/mt. The plant price fits with the netback from the NFL sale, one trader said.
India:
Sources reported that NFL secured 50,000 mt of DAP from China at $625/mt CFR, showing further price erosion into India.
Brazil:
Prices of MAP edged downward to $630-$650/mt FOB. The lower end of the range was reportedly dominated by Russian product.
The price in Rondonopolis is now pegged at $740-$800/mt FOB. Sources said aggressive bidding at ever-lower levels brought down the price. However, said sources, not everyone was able to take advantage of the lowest end of the range.
MAP imports for January-February totaled 711,000 mt, according to Trade Data Monitor, up significantly from the prior-year 311,000 mt. February imports were 324,000 mt, a 59% increase from 204,000 mt in February 2022. Morocco accounted for 45% of the imported MAP with 145,000 mt, while Russia’s 137,000 mt represented 42% of the import market.