US Gulf:
Reports of trades at the previous week’s low of $360/st FOB continued early in the week, though most sources quoted NOLA potash barges in the $370-$375/st FOB range for new business as the week progressed.
Eastern Cornbelt:
Potash warehouse prices continued to slide in the Eastern Cornbelt. The Cincinnati market was pegged at $425-$430/st FOB for new business, down from $445-$460/st FOB, with inland warehouses reported in the $440-$460/st FOB range. Michigan sources quoted new offers FOB Toledo at $445-$475/st FOB, depending on time of shipment.
Western Cornbelt:
Potash terminal pricing was flat at $420-$465/st FOB in the Western Cornbelt, with the low at St. Louis and the high reported in Iowa.
Northern Plains:
Sources quoted potash pricing at $460-$470/st FOB St. Paul, with delivered tons pegged at the $470-$485/st level in the Northern Plains. The latest prices FOB Saskatchewan mines, based on current exchange rates, were reported at $482-$495/st, depending on grade and time of delivery.
Northeast:
Potash prices remained under pressure in the Northeast. New offers were reported at $440-$465/st FOB in the region, down from the previous $460-$480/st FOB range, with the low confirmed at East Liverpool and the high at Fairless Hills. Delivered tons were quoted at the $490/st level in Pennsylvania.
Eastern Canada:
Potash pricing in Eastern Canada remained at C$740-$745/mt FOB regional warehouses.
Brazil:
Prices continued to falter. Sources put the market at $450-$470/mt CFR. Re-exported material from the US Gulf and tonnage from Belarus are keeping downward pressure on prices, sources said.
Rondonopolis was also reported down, with sources putting the price at $570-$605/mt FOB ex-warehouse. The price decline is being repeated in other parts of the country, giving little hope to potash sellers.
January-February potash imports were 1.3 million mt, according to Trade Data Monitor, off21% from the year-ago 1.7 million mt.
February 2023 imports totaled 788,000 mt, down from 940,000 mt in February 2022. Russia provided 37% of the total with 289,000 mt, followed by 225,000 mt from Canada. Belarus sent 106,000 mt.
Thailand:
Trade Data Monitor put January potash imports at 49,000 mt, up slightly from 42,000 mt in the previous January. Germany was the largest supplier, with 35,000 mt.