US Gulf:
The NOLA potash market slipped to $335-$345/st FOB for November-December business, down from last week’s $340-$350/st FOB range.
Potash was reported at $400-$420/st FOB in the Eastern Cornbelt, with the Cincinnati market quoted at the $405-$415/st FOB level in early November.
Potash prices widened to $390-$415/st FOB in the Western Cornbelt, with the St. Louis market pegged in the $390-$405/st FOB range, down slightly from last week’s $405-$410/st FOB.
California:
The potash market was up $20/st, to $530-$553/st FOB or DEL in California, depending on grade and location.
Pacific Northwest:
Potash was quoted at $475-$508/st FOB or DEL in Pacific Northwest, with the high reflecting reference pricing for 62% MOP. The last postings from Intrepid FOB Moab and Wendover, Utah, included $435/st FOB for 60% white standard and $440/st for 60% white granular.
Western Canada:
Potash truck pricing in Western Canada reportedly jumped to C$575-$585/mt FOB Saskatchewan mines for November-December tons, depending on grade, up from C$545-$555/mt FOB in October.
Brazil:
Potash pricing in Brazil narrowed to $330-$345/mt CFR, a shift from $320-$350/mt CFR in the previous week, with product from sanctioned origins pegged at the bottom of the range.
Rondonópolis prices were reported at $470/mt FOB ex-warehouse, narrowing from the previous week’s $460-$480/mt FOB, with few negotiations for prompt deliveries reportedly underway. Large-volume talks reported one week earlier were noted pressuring negotiations for the 2024/25 soybean season to the $460/mt FOB ex-warehouse level.
January-October potash imports firmed year-over-year, according to Trade Data Monitor, to 11 million mtfrom the 10.8 million mt received through the same period of 2022. Canada sent 4.3 million mt, and Russia sent 3.4 million mt.
Imports totaled 1.3 million mt in October, up significantly from 668,000 mt in October 2022. Canada and Russia combined for 61% of the October tonnage, while Uzbekistan, a new source for Brazil, shipped 185,000 mt.