U.S. Gulf:
The NOLA potash barge market remained in the $750-$770/st FOB range.
Eastern Cornbelt:
The potash market was quoted at $770-$790/st FOB in the Eastern Cornbelt, depending on location, with the Cincinnati market pegged at $780-$790/st FOB during the week.
Western Cornbelt:
Potash pricing was reported at $770-$790/st FOB in the Western Cornbelt, depending in location, with the low at St. Louis.
Southern Plains:
Potash pricing was quoted at $760-$780/st FOB Catoosa/Inola and $765/st FOB Houston. Potash postings from Intrepid FOB Carlsbad, N.M., remained at $855/st for 60% white granular and $875/st FOB for 62% white standard.
South Central:
The potash market was reported at $770-$800/st FOB in the South Central region, with the low confirmed in Kentucky and the high at Shreveport. Pricing out of most Arkansas River terminals was reported at the $790-$795/st FOB level, while the Memphis market was pegged at $780-$785/st FOB.
Southeast:
The latest potash offers in the Southeast were confirmed at $790-$800/st FOB port terminals, with rail-DEL Canadian tons pegged in the $830-$840/st range in the region.
Bangladesh:
The Ministry of Agriculture is reported to have closed another tender for standard potash on June 9. The Ministry has not specified the volume it is looking to buy.
In early May, the Ministry awarded part of a tender for 257,000 mt of standard potash that closed in April (GM April 22, p. 15). The award prices were reported at $1,045-$1,250/mt CFR, but further details have been sketchy (GM May 13, p. 18).
Brazil:
A lower MOP price of $1,035-$1,150/mt CFR seems to have developed because of reduced demand rather than excess supply. Even the uncertainty of future MOP supplies from Russia and Belarus because of U.S. and E.U. sanctions has not forced prices up.
Sources said holders of MOP at portside warehouses and inland all seem anxious to move out their product. At the same time, buyers, sensing their desperation, are holding off on purchases until the last minute, and then only taking what they immediately need.
The Rondonópolis price reflected a similar softer uncertainty. Sources pegged the price range at $1,160-$1,250/mt FOB ex-warehouse.