U.S. Gulf:
NOLA potash barge prices continued to climb. The market was quoted at $365-$380/st FOB, up from the week-ago $345-$362/st FOB.
Eastern Cornbelt:
Potash pricing surged higher in the Eastern Cornbelt, with regional sources describing supply as “very snug out there.” The market was pegged at $395-$420/st FOB in early June, up $20/st from the prior week, with the lower end of the range confirmed at Cincinnati and the high at Ottawa.
Western Cornbelt:
Sources quoted potash pricing at $395-$415/st FOB in the Western Cornbelt, up $15-$20/st from the previous week, with the St. Louis market pegged at $395-$405/st FOB in early June. The market FOB Camanche firmed $20/st from the previous week, to $400/st FOB for June tons
Southern Plains:
Potash pricing was reported at $390-$415/st FOB in the Southern Plains, up $35-$40/st from last report, with the low at Houston and the high at Catoosa/Inola. Postings FOB Carlsbad, N.M., remained at $450/st for 60 percent white granular and $457/st for 62 percent white standard.
South Central:
Potash prices firmed to a broad range of $390-$420/st FOB warehouses in the South Central region, with the low reported at Memphis and the high at Shreveport. Most Arkansas terminals were pegged firmly at the $415/st FOB level at midweek.
Southeast:
Potash pricing had reportedly firmed to $425/st FOB Wilmington, up a full $55/st from mid-May levels. The last posted price at Fairless Hills was $415/st FOB as of May 27, but no tons were on offer there in early June.
Bangladesh:
Sources said the Ministry of Agriculture awarded the full tonnage under its annual tender for the supply of 200,000 mt of standard potash to Belarusian Potash Co. (BPC), via local trading companies. The award price was reported to be $345/mt CFR with the tons required to be shipped by Oct. 15. The tender closed on June. 3.
Brazil:
The Paranagua MOP market showed a slight uptick as the market tightened. Sources put the price at $395-$400/mt CFR, moving up the lower end of the range from last week.
Sources said the tightness in the market is mostly because suppliers are said to be slowing down deliveries from overseas to create temporary shortages at a time when other suppliers are unable to cover the difference between supply and demand. One observer said this is a standard – and expected – move that is generally considered when discussing prices and quantities.
The lack of material in Rondonopolis moved up prices about $12/mt, to $480-$520/mt FOB ex-warehouse. Demand for the next quarter applications is expected to start soon, leading to even higher prices.