US Gulf:
The NOLA potash market remained at the prior week’s $275-$285/st FOB for the latest offers. While some speculated that deals could be had at the $265/st FOB level, no actual sales or offers were confirmed at that price during the week.
Potash was reported in the $325-$340/st FOB range in the Eastern Cornbelt, with the upper end for prompt tons out of Illinois River terminals. Most fill program offers were reported in the $325-$335/st FOB range for tons booked by June 27 and shipped before Sept. 30, with a $20/st increase slated for orders after June 27.
Western Cornbelt:
Potash dropped to $325-$340/st FOB in the Western Cornbelt, with the low reported for recent fill program offers.
Southern Plains:
Potash was reported at $320-$330/st FOB for fill program offers in the Southern Plains, down from the last confirmed prompt business in the $350-$360/st FOB range. The last reference prices from Intrepid FOB Carlsbad, N.M., were steady at $460/st for 60% white granular and $468/st for 62% white standard.
South Central:
Warehouse potash pricing in the South Central region slipped to $325-$350/st FOB from the prior $330-$365/st range, with the high confirmed in Arkansas and the low for fill offers in Kentucky. The Memphis market was quoted at $330-$335/st FOB in late June.
Southeast:
Potash fill offers were circulating at $320-$337/st FOB in the Southeast, depending on grade and location, with rail-DEL fill pricing reported at the $332-$348/st level in the region. Orders were required by June 27, with a $20/st increase scheduled after that.
Northwest Europe:
Potash demand remained seasonally muted in the region, with no further price developments reported and suppliers still not circulating new pricing. Granular potash in Northwest Europe was reported at €330-€350/mt CIF, with standard potash at €315-€330/mt CIF.
Southeast Asia:
A lack of clarity regarding major contracts in neighboring China and India continued to weigh on both granular and standard potash in southeast Asia. Standard product slipped to $280-$295/mt CFR, while granular dropped to $335-$345/mt CFR. Product of Jordanian/Israeli origin is hard to come by with Russian, Belarusian, and Laotian offers dominating the market.
Brazil:
Potash prices remained at the week-ago $305-$315/mt CFR level. While offers continue to be reported at $320/mt CFR, buyers are awaiting pricing for vessels loading in August.
Inland prices narrowed to $435-$445/mt FOB Rondonópolis, giving potash the market’s most favorable price level relative to grain. While demand remained steady, buyers are reportedly holding off from making large purchases following the sizeable import volumes recorded during the first half of the year.