U.S. Gulf:
Potash barge prices moved up to $315-$325/st FOB for March, up from the week-ago $305-$325/st FOB. Sources indicated about $5/st less for April.
Eastern Cornbelt:
Potash was quoted at $350-$380/st FOB in the Eastern Cornbelt, with the Cincinnati market reported at the $360-$365/st FOB level for new offers in early March.
Western Cornbelt:
The potash market was reported at $350-$375/st FOB in the Western Cornbelt, with the Catoosa/Inola market pegged at $350-$360/st FOB in early March.
Northern Plains:
Sources quoted potash at $350-$375/st FOB St. Paul. The market to U.S. buyers FOB Saskatchewan mines remained at a firm $330-$340/st after netbacks, depending on grade.
Great Lakes:
Sources pegged the red potash market at $360-$375/st FOB in the Great Lakes region, with the low in Wisconsin and the higher numbers reported by Michigan sources FOB Toledo/Maumee. White potash was quoted at $379/st FOB Toledo and Webberville in early March.
Northeast:
Potash pricing for prompt and Q2 shipments was quoted at a firm $360-$365/st FOB Fairless Hills as of Feb. 22. Rail-DEL tons were pegged in the $380-$395/st range in the Northeast.
Jordan:
Arab Potash Co. (APC) on March 2 exported 90,000 mt of potash to China, the largest shipment in APC’s history, according to the Jordan Times. In a filing to the Amman Stock Exchange, APS said the tons shipped to Sinochem Macao are part of the volumes specified under the contract agreement signed last May between APC and Sinochem Macao (GM May 22, 2020).
The new supply agreement was part of a three-year Memorandum of Understanding between the two companies covering the period from 2020-2022. China imported 654,588 mt of potash from Jordan in 2020, according to Trade Data Monitor, a 4 percent decline from 2019.
It was not clear if this week’s potash shipment consisted of optional tons under the 2020 contract, or provisional tons, or if APC and its Chinese counterpart have inked a new supply contract for 2021. However, the Jordanian producer typically announces new contracts with its Chinese and Indian customers in filings to the Amman Stock Exchange and on its website.
Brazil:
Demand for MOP is providing a steady upward path for prices. Sources now report the Paranagua price at $310-$315/mt CFR, tightening up the lower end of the range and moving the upper end up slightly.
There are reports circulating among traders that Canpotex may be reducing its footprint in the Brazilian market to better focus on the U.S. market. Such a departure could lead to even higher prices, said sources.