US Gulf:
Most sources reported new NOLA potash business in a tight $320-$325/st FOB range for the week, within the prior week’s broader $315-$330/st FOB. While some said business was also concluded at a low of $310/st FOB during the week, others discounted those claims, saying they were likely calculated based on forward rebates for volume purchases.
Potash was steady at $400-$420/st FOB in the Eastern Cornbelt, with the low confirmed in Illinois on a spot basis. The Cincinnati market was reported in the $405-$415/st FOB range during the week.
Potash remained at a firm $400-$420/st FOB range in the Western Cornbelt, depending on location.
Northern Plains:
Potash was unchanged at $400-$410/st FOB St. Paul, with delivered tons reported at the $400/st level for 4Q shipment. The latest prices FOB Saskatchewan mines continued at $377-$384/st FOB, depending on grade.
Northeast:
Potash pricing was steady at $375-$420/st FOB in the Northeast, with the low reported at Baltimore and the high at East Liverpool. Delivered potash was pegged at the $390/st level for imports in central Pennsylvania, with higher prices reported for Canadian rail-DEL offers.
Eastern Canada:
The potash market in Eastern Canada was unchanged at C$615/mt FOB regional warehouses in early December.
Brazil:
Potash imports declined slightly, to $315-$330/mt CFR from last week’s $320-$330/mt CFR, as a positive barter ratio and more favorable weather conditions reportedly stimulated demand. Supply from Former Soviet Union (FSU) countries has been strong, and material from an incoming vessel was reportedly priced at the bottom of the range.
Rondonópolis prices remained steady after falling to the $440-$455/mt FOB ex-warehouse range last week. A number of suppliers with higher offers were reported adjusting prices to current levels, leading to a tighter range of offers.
January-November potash imports in Brazil stood at 12.3 million mt, according to Trade Data Monitor, a 9% increase from the 11.3 million mt received through the same 11 months of 2022. November imports were posted at 1.2 million mt, jumping from 458,000 mt in November 2022.