US Gulf:
No new potash barge business was reported during the week, leaving the market at the previous $345-$350/st FOB NOLA range.
Potash prices reportedly strengthened to $400-$410/st FOB in the Eastern Cornbelt, following Nutrien’s decision on Oct. 20 to raise its Midwest reference price to $420/st FOB. Sources pegged the Cincinnati potash market firmly at the $405/st FOB level in late October.
Recent potash offers in the Great Lakes region included $410/st FOB and $440/st DEL in Michigan, up from the prior $400-$408/st FOB range.
Potash firmed to $390-$405/st FOB in the Western Cornbelt, up from last week’s $385-$400/st range, with the St. Louis market quoted at $390-$400/st FOB.
Northern Plains:
Potash was unchanged at $390-$400/st FOB St. Paul, with delivered tons reported in the same range for 4Q shipment. The latest prices FOB Saskatchewan mines remained at $350-$357/st FOB, depending on grade.
Northeast:
Potash prices firmed to $370/st FOB Fairless Hills and as high as $420/st FOB East Liverpool for October-November shipment. Delivered potash was pegged at the $386/st level in central Pennsylvania in late October.
Eastern Canada:
The potash market in Eastern Canada firmed to a solid C$615/mt FOB regional warehouses in late October, up from the prior C$585-$590/mt FOB range.
China:
January-September potash imports moved up 31% year-over-year, Trade Data Monitor reported, to 8.2 million mt from 6.2 million mt in the same period of 2022. Third-quarter imports lifted 38%, to 2.9 million mt from the year-ago 2.1 million mt. September imports of 1.1 million mt were up 63% from the 650,000 mt shipped in September 2022.
Brazil:
Brazil potash imports increased to $330-$355/mt CFR, up from the prior week’s $330-$350/mt CFR range. Market players reported limited demand for prompt deliveries.
In Rondonópolis, low-end offers dipped to $460/mt ex-warehouse as sellers attempted to stimulate new negotiations, while Canadian tons were noted up to $485/mt ex-warehouse. Farmers are reportedly delaying both potash and nitrogen purchases for the corn safrinha season.