Central Florida:
Central Florida DAP trucks increased to $530-$550/st FOB for the week, up from last week’s $540/st FOB. Truck-loaded MAP maintained its $100/st premium to DAP, stretching to $630-$650/st from the prior $640/st FOB. White Springs MAP prices were unmoved at $625/st FOB.
US Gulf:
Prompt and loaded NOLA phosphate barges traded at a premium to November loadings, sources said. DAP barges lifted $5/st, to $525-$550/st FOB from the week-ago $520-$545/st FOB, while upriver barges changed hands up to $555/st FOB. Sources quoted MAP barges in the $600-$650/st FOB range, off from $615-$650/st FOB at last report.
US Exports:
With nothing new reported on the US Gulf DAP and MAP export markets, pricing remained at the week-ago $570/mt FOB.
Eastern Cornbelt:
DAP firmed to $590-$625/st FOB in the Eastern Cornbelt, up $15/st at the high end of the range. MAP pricing jumped to $700-$725/st FOB in the region, up from last week’s $690-$710/st FOB. Both the high and low ends of each range were reported in the Cincinnati market during the week.
“We have just begun to move product out of the warehouse,” commented one southern Indiana source. “It’s by no means a hard push, but more like a steady flow.”
DAP pricing was quoted firmly in the $590-$610/st FOB range in the Western Cornbelt, with MAP reported at $700-$720/st FOB, depending on location.
Southern Plains:
DAP prices jumped to $610-$620/st FOB Catoosa/Inola and Houston, up from the prior $590-$600/st FOB range. The MAP market climbed to $710-$720/st FOB at those locations, up from the previous $690-$700/st FOB level.
South Central:
DAP prices in the South Central region firmed to $590-$610/st FOB, up from the prior $585-$590/st FOB range.
Southeast:
MAP postings from Nutrien remained at $625/st FOB Aurora, N.C., and White Springs, Fla., in mid-October.
China:
Producers continue to push for higher DAP prices but are facing strong resistance from Indian buyers. The current price of $570-$575/mt FOB is likely the ceiling, sources said, noting that prices are expected to come down soon.
Softer prices are anticipated if the Chinese government authorizes the export of 1 million mt of DAP during the last quarter of the year. So far, the market has reacted as if this permission has been granted. Traders and end users have already entered talks with major suppliers in China to set up shipments, sources said.
India:
Demand for DAP remains strong, but the current high price and limited subsidy payments are preventing large-scale sales, players said. The current price of $595/mt CFR, achieved a few weeks ago, now seems to be on the decline.
Even as producers push for $600/mt CFR, buyers are sticking to firm bids at $520/mt CFR. Neither side is claiming a sale at those levels.
Brazil:
The landed price of MAP continued at $550/mt CFR. Players noted low availability and limited interest from buyers.
Rondonopolis MAP lifted to $650-$700/mt FOB, returning to levels seen in late September. Shipping delays have reportedly led to tight domestic supply, resulting in higher prices for the soybean application season.
MAP imports to Brazil totaled 3.8 million in January-September, Trade Data Monitor reported, a 14% increase from the 3.4 million mt received during the same period of 2022. Russia sent 1.8 million mt, followed by Morocco with 1 million mt. Saudi Arabia added 649,000 mt.
Third-quarter imports were pegged at 1.5 million mt, against 1.2 million mt received in July-September 2022. Imports totaled 473,000 mt in September, rising from 241,000 mt reported one year earlier. Russia sent 208,000 mt for the month, while Morocco shipped 166,000 mt.