US Gulf:
NOLA potash barge prices continued to be pressured, and were called $480-$490/st FOB, down from $490-$500/st FOB. Mosaic has posted its NOLA-equivalent price at $500/st FOB.
US Imports:
September potash imports were 927,518 st, down 9.5% from 1.02 million st in September 2021. July-September imports were off 8.3%, at 3.02 million st compared to 3.29 million st in the prior-year period.
Canadian imports for July-September were counted at 2.59 million st. Russia sent 334,186 st through the fertilizer year-to-date, followed by 75,295 st from Israel.
US Exports:
Potash exports rose 19.5% in September, to 425,859 st from the year-ago 356,448 st. Exports were noted at 996,608 st for July-September, however, falling 10.6% from the year-ago 1.11 million st.
Eastern Cornbelt:
The potash market slipped to $540-$565/st FOB in the Eastern Cornbelt, down from the previous $585-$595/st FOB range, with both the high and low confirmed at Cincinnati. The Ottawa market was reported at the $555/st FOB level on Dec. 13.
In the Northeast, new potash offers FOB East Liverpool were confirmed at $560/st FOB, well below the previous week’s $635/st FOB level.
Western Cornbelt:
Potash pricing fell to $550/st FOB St. Louis early in the week, with one source describing the market as “the proverbial falling knife.” Mosaic on Dec. 14 reposted potash at $540/st FOB river terminals and $545/st FOB inland warehouses for orders placed by Dec. 19 and shipped by the end of March 2023.
Southern Plains:
The latest potash warehouse pricing in the Southern Plains was reported at $530-$560/st FOB Catoosa/Inola, depending on supplier, down significantly from the prior week’s $585-$595/st FOB range. Houston potash pricing was also confirmed in the low- to mid-$500s/st FOB at midweek, down from $595/st FOB on Dec. 5.
South Central:
Potash was pegged in a broad range at $555-$615/st FOB in the South Central region, with the low confirmed in Arkansas and the high in Kentucky. The Memphis potash market was reported at $580-$585/st FOB at midweek.
Southeast:
Potash pricing in the Southeast slipped to $605/st FOB Wilmington, down another $15/st from last report.
India:
As previously reported, Indian Fertilizers Ltd. (NFL) on Dec. 22 will close a request for proposal (RFP) for entering into a long-term supply agreement (MOU) with potash producers for 250,000 mt firm of standard pink/red/white potash. The material is to be supplied over a 12-month period from the date of contract signing, or a mutually-agreed period (GM Dec. 2, p. 16).
Potash imports for January-October were reported at 2.4 million mt by Trade Data Monitor, off 17% from 2.8 million mt recorded through the first 10 months of 2021. Canada was India’s largest supplier with 874,000 mt, followed by Israel with 580,000 mt.
October imports were counted at 278,000 mt, up marginally from 276,00 mt received in October 2021. Canadian potash accounted for 58% of the market at 161,000 mt, while Israel supplied 70,000 mt.
Brazil:
The price of potash continued its downward slide, as sources reported deals at $500-$520/mt CFR. More buyers are reportedly looking for prompt shipments for their soybean crops, while sellers, in an effort to clear out their warehouses, were said to offer discounts for these deals.Discussions for new business were rumored at $480/mt CFR, but no deals were on hand to confirm that new level.
Rondonopolis edged downward to $650-$660/mt FOB ex-warehouse, as buyers took advantage of discounts for prompt deliveries of product.