U.S. Gulf:
New NOLA potash barge trades were reported in the $730-$795/st FOB range and pushing toward the $800/st FOB mark. The week-ago range was $650-$705/st FOB.
Eastern Cornbelt:
Potash pricing in the Eastern Cornbelt firmed from a low of $745/st FOB Cincinnati early in the week to a high of $825/st FOB on a spot basis by the end of the week. The market FOB Great Lakes terminals was quoted as high as $845-$860/st FOB during the week.
Western Cornbelt:
Potash pricing firmed to a range of $790-$825/st FOB in the region, with both the high and low confirmed in St. Louis, depending on the time of the week. “Literally everything is really ‘call for quote and tons available’,” said one source on March 10. “You might be hard pressed to get a potash quote on any significant volumes this morning.”
Sources confirmed Catoosa/Inola potash tons at the $810-$820/st FOB level late in the week, up from $780-$795/st FOB earlier, with some suppliers reportedly trying to get to $830/st FOB for new offers. Those levels were up significantly from the prior week’s $730-$740/st FOB range.
Northern Plains:
Sources quoted new potash offers at $790-$820/st FOB St. Paul. The last prices FOB Saskatchewan mines for 2Q tons were reported at $720-$730/st after netbacks, depending on grade and destination. No current delivered potash prices were confirmed in the Northern Plains in early March.
Northeast:
Potash pricing firmed to $750-$790/st FOB in the Northeast for limited prompt or 2Q tons, with the low confirmed at East Liverpool and the high at Fairless Hills. Delivered tons were reported at $760-$800/st in the region.
Eastern Canada:
The potash market remained at C$1,040-$1,056/mt FOB in Eastern Canada for prompt or 2Q tons, unchanged from last report.
Brazil:
The threat of losing MOP supplies from Russia and Belarus moved prices up in Brazil. Reported deals came in at $920-$1,100/mt CFR. Sources said by the end of the week, nothing under $1,000 mt was under discussion.
The vessel line up shows about 1.3 million mt of MOP already on its way to Brazil. Russian product accounts for about a quarter of the tonnage. If the global sanctions against Russia and the upcoming sanctions against Belarus are observed, Brazil will have lost almost two-thirds of its normal MOP purchases.
Rondonopolis prices moved to $1,070-$1,170/mt FOB ex-warehouse. Sellers are telling buyers they will not make forward sales. Any purchase has to be hauled away at the time of sale.
MOP imports during the first two months of the year came in at 1.7 million mt, according to Trade Data Monitor. The amount is slightly down from the 1.8 million mt imported during the same period in 2021.February 2022 MOP imports were reported at 946,000 mt, down from 998,000 mt in February 2021.
Thailand:
January MOP imports were reported at 42,000 mt by Trade Data Monitor. This is down 44 percent from January 2021 imports of 75,000 mt. The tonnage was spread out almost equally among four supplying countries.