U.S. Gulf:
The most recent NOLA potash barge business was reported at $540-$550/st FOB, up from $525-$550/st FOB. Most expected the next trade to go higher, though news of new trades or quotes was scarce.
Eastern Cornbelt:
Potash was quoted at $575-$595/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged in the $585-$595/st FOB range for limited offers. Out of Illinois terminals, the market was reported at a firm $585/st FOB East Dubuque, Ottawa, and LaSalle.
Western Cornbelt:
Sources said the potash market had firmed to $575-$585/st FOB in the Western Cornbelt, depending on location, with the low confirmed at St. Louis and the high at Camanche, Iowa.
Northern Plains:
Sources quoted the potash market at $555-$575/st FOB St. Paul in late July, with tons described as very tight. The market to U.S. buyers FOB Saskatchewan mines was pegged at $410-$420/st after netbacks, depending on grade.
Northeast:
Potash prices were up in the Northeast, with new reference levels for July-August tons reported at the $600/st mark FOB Fairless Hills, Pa., as of July 26. Many suppliers, however, continue to withhold new published prices since the rapid increases that occurred earlier this summer amid tightening supplies.
Eastern Canada:
Sources pegged the potash market firmly at the C$660/mt level FOB regional warehouses in Eastern Canada, up C$100/mt from the last prompt spring business.
Canpotex reported on July 27 that it is fully committed on volumes for potash sales into November 2021, citing continued strong demand and solid fundamentals for major agricultural commodities in key offshore markets. It said the focus on food security continues in a number of Canpotex’s markets.
Israel:
ICL is now sold out of potash through October, ICL President and CEO Raviv Zoller told analysts at the company’s second-quarter earnings call on July 28. Zoller said the group has an “all-time” low level of potash inventory at the Dead Sea “because the market is undersupplied, and there is excess demand.” He described potash pricing as “very, very attractive.”
Zoller said the group’s last sale in Brazil was at $620/mt CFR, and in the U.S. at around $540/st, but he did not indicate when the sales were done. In Thailand, Zoller said ICL had achieved $600/mt CFR on its latest potash sale concluded last weekend, although he did not specify whether the product was standard or granular.
Brazil:
Potash prices keep going up in Brazil. Paranagua is now reported at $670-$700/mt CFR, representing at least a $50/mt jump in just one week. Sources said the price increase is directly connected to a lack of product and strong demand.
Rondonopolis is showing a wider spread in its price from a week ago, with the market now quoted at $700-$800/mt FOB ex-warehouse. Some of the uncertainty in the pricing is coming from fears that a possible trucker strike, or even a continued shortage of trucks, could affect availability of product in the near future.
Thailand:
Imports of MOP in Thailand for the first half of the year were up 51 percent, to 514,000 mt from 327,000 mt during the same period last year, according to Trade Data Monitor.The main suppliers this year were Canada at 194,000 mt and Belarus at 155,000 mt.
June 2021 imports were also up, to 74,000 mt from 65,000 mt in June 2020. Second-quarter 2021 imports were also up 302,000 mt, compared with 217,000 mt last year. Canada led the second quarter at 154,000 mt, followed by Belarus at 60,000 mt.