US Gulf:
NOLA potash barge prices fell again. By late Thursday, sources were calling the market $410-$430/st FOB, down from the week-ago $440-$445/st FOB. Sources said that the updated NOLA numbers were in line with the lower inland numbers that resulted from recently-announced producer fill programs.
Eastern Cornbelt:
Potash pricing in the Eastern Cornbelt was pegged at $465-$480/st FOB regional warehouses for fill offers during the week.
Western Cornbelt:
The potash market slipped to $455-$475/st FOB in the Western Cornbelt. Some fill offers in the Southern Plains were reported as low as $435/st FOB during the week.
California:
Potash fill pricing ranged from $585-$615/st FOB in California, depending on grade and location, with the low confirmed for 60% MOP and the high for 62%.
Pacific Northwest:
Fill offers for potash were reported at $530-$560/st FOB in the Pacific Northwest, with delivered pricing quoted at $532/st in Montana, $542/st in Idaho, and $552/st in Washington and Oregon. Intrepid’s potash prices FOB Moab and Wendover, Utah, dropped at mid-month to $505/st for 60% white standard and $515/st for 60% white granular.
Western Canada:
Fill prices for potash reportedly dropped to C$715/mt FOB Saskatchewan mines for February-March, although several sources said those initial offers expired during the week and were followed by new pricing in the C$735-$775/mt FOB range, depending on grade and time of shipment.
Brazil:
Sellers were hoping potash prices would move higher as demand picked up. However, those hopes were dashed by players offering sanctioned material from Belarus, leaving the market at $500-$520/mt CFR.
The Rondonopolis price was down to $600-$660/mt FOB ex-warehouse on limited activity. Farmers were noted wrapping up their 2022/23 soybean needs, and have not yet committed to their full 2023/24 corn needs. At the same time, an influx of material from Belarus provided lower-priced potash.
South Korea:
Imports of potash for 2022 were reported at 652,000 mt by Trade Data Monitor, a15% decline from 771,000 mt noted for 2021. The market’s main supplier was Canada with 494,000 mt, followed by Israel with 95,000 mt.
December imports were 31,000 mt – with 30,000 mt coming from Canada – compared to the year-ago 53,000 mt. Fourth-quarter imports were clocked at 86,000 mt, falling from 198,000 mt in the same period of 2021, while Canada again dominated the market with 82,000 mt. South Korean buyers brought in 283,000 mt through the last six months of 2022, off from 380,000 mt in second-half 2021.