US Gulf:
The NOLA potash market was reported at $340-$350/st FOB for November business during the week. Rumors of new trades at the $360/st level for loaded and moving barges could not be confirmed.
Potash prices reportedly strengthened again, firming to $400-$420/st FOB in the Eastern Cornbelt from last week’s $400-$410/st range. Sources pegged the Cincinnati potash market solidly at the $405-$415/st FOB level in early November.
Potash firmed to $400-$410/st FOB in the Western Cornbelt, with the low reported at Caruthersville. The latest St. Louis offers were pegged at the $405-$410/st FOB level, up from the previous $390-$395/st FOB range.
Southern Plains:
The potash market strengthened to $400-$410/st FOB Catoosa/Inola and Houston for the latest business, up from $390-$395/st FOB at last report. The last postings from Intrepid FOB Carlsbad, N.M., included $445/st for 60% white granular and $453/st for 62% white standard.
South Central:
Potash was quoted at $390-$405/st FOB warehouses in the South Central region, up from the previous $380-$395/st FOB range, with the low reported at Memphis and the high out of river terminals in Kentucky. The Little Rock, Ark., market was pegged at the $400/st FOB level in early November.
Southeast:
Potash was unchanged at $360-$370/st FOB port terminals in the Southeast, with reports of rail-DEL Canadian tons at the $385-$390/st level.
Bangladesh:
The government of Bangladesh authorized the purchase of 30,000 mt of potash on a government-to-government basis with Russia, using JSC Prodintorg as an intermediary. This action is similar to steps taken in the past to secure the country’s limited potash needs.
Thailand:
January-September potash imports in Thailand totaled 474,000 mt, Trade Data Monitor reported, a 29% decrease from the year-ago 666,000 mt. July-September imports of 181,000 mt were up slightly from the 174,000 mt received in third-quarter 2022, while imports jumped to 42,000 mt in September, above the year-ago 13,000 mt.
Brazil:
Potash imports slipped to $320-$350/mt CFR in Brazil, off from $330-$355/mt CFR at last report, with product from sanctioned origins noted at the bottom of the range. Sources cited high inventories and limited buyer interest as contributing to the softer pricing.
Slow domestic demand resulting from uncertainties in the corn safrinha continued to pressure potash suppliers into discounts at Rondonópolis. Lower offers remained at $460/mt FOB ex-warehouse, while the top of the range dropped $5/mt, to $480/mt FOB ex-warehouse.