US Gulf:
The NOLA potash market continued to edge higher, with new business confirmed in the $328-$335/st FOB range for September barges, up from last week’s low of $322/st FOB. October trades were reported at the $330/st FOB level during the week.
Potash was unchanged at $385-$400/st FOB in the Eastern Cornbelt, with the low reported at Cincinnati, Ottawa, and out of other Ohio and Illinois river warehouses.
Western Cornbelt:
The potash market was quoted at $370-$390/st FOB in the Western Cornbelt, with the St. Louis market reported in the $370-$380/st FOB range. Potash pricing at Caruthersville was confirmed at the $375/st FOB level during the week.
Southern Plains:
Potash was reported at $380-$390/st FOB Catoosa/Inola and $385/st FOB Houston in late August. The last postings from Intrepid FOB Carlsbad, N.M., included $445/st for 60% white granular and $453/st for 62% white standard.
“I think that fall demand will pull potash inventories down,” said one regional contact.
South Central:
Potash was pegged at $375-$390/st FOB in the South Central region, with the low confirmed at Memphis and the high out of river terminals in Kentucky.
Southeast:
Potash was up slightly at $350-$360/st FOB Wilmington, N.C., with reports of rail-DEL Canadian tons holding at the $385-$390/st level in the Southeast.
India:
RCF will close a tender for 35,000 mt of potash on Sept. 4, with shipment required in October. The material is slated for use in RCF’s NPK producing operations. A call for 40,000 mt of MAP/DAP Lite accompanied the potash request.
Thailand:
January-July potash imports in Thailand totaled 356,000 mt, Trade Data Monitor reported, off 35% from the year-ago 551,000 mt. July imports firmed to 62,000 mt from 59,000 mt in July 2022. Canada supplied 47% of the July market, sending 29,000 mt.
Brazil:
Brazil potash import prices continued in the $350-$360/mt CFR range on limited buyer interest. Sanctioned product was reportedly offered at $330-$340/mt CFR, marking the return of discounts for sanctioned tonnage.
Rondonopolis potash prices firmed to $470-$495/mt FOB ex-warehouse, up from $470-$490/mt FOB at last report. Despite increased availability, few transactions were reported for corn safrinha during the week. Offers for the 2024/25 soybean season were referenced at $500/mt FOB ex-warehouse.