U.S. Gulf: No new business was reported last week to test the market, leaving the last done business in the $230-$240/st ($7.19-$7.50/unit) FOB range. Sellers were now quoting in the $245-$255/st FOB range, with buyers obviously hoping to at least hold pricing at last done levels. Sources said a large quantity of product was sold at lower levels and buyers are not that anxious to buy right now, especially with higher quotes.
The last done East Coast vessel business continues to be called $250/mt CFR, though sellers are eyeing higher numbers in the $260-$265/mt CFR range.
May imports were down 22 percent, to 318,059 st from the year-ago 409,047 st. July-May imports were off 24 percent, to 2.8 million st from the year-ago 3.67 million st.
Eastern Cornbelt: The UAN market remained at $8.91-$10.00/unit FOB terminals in the region, with the low quoted at $285/st FOB for UAN-32 out of the Cincinnati market.
Western Cornbelt: The UAN-32 market remained in a broad range at $285-$320/st ($8.91-$10.00/unit) FOB in the Western Cornbelt, depending on location and time of delivery, with the low reported in southern Missouri.
California: Sources talked of short UAN supplies in the state, with good movement reported. The dealer market for UAN-32 was pegged at $315-$325/st FOB ($9.84-$10.16/unit) FOB terminals in California, although some sources said they expect lower prices when incoming rail tons arrive to replenish inventories.
Delivered UAN-32 was quoted in a broad range at $315-$355/st ($9.84-$11.09/unit), with the low for railed tons in the Central Valley and the upper end for truck-DEL product. Agrium’s UAN-32 postings in California moved on July 1 to $320/st ($10.00/unit) FOB Woodland; $325/st ($10.16/unit) FOB Richvale; $335/st ($10.47/unit) FOB West Sacramento; and $365/st ($11.41/unit) truck-DEL.
Pacific Northwest: The UAN-32 market was quoted in a broad range at $350-$375/st ($10.94-$11.72/unit) DEL in the Pacific Northwest, depending on location and supplier, with the low end of the range reflecting a $20/st drop from last report.
Agrium’s UAN-32 postings in the Pacific Northwest moved on July 1 to $345/st ($10.78/unit) FOB Kennewick, Wash.; $350-$355/st ($10.94-$11.09/unit) DEL in Washington, northern Idaho, and central, northeastern, and northwestern Oregon; $360/st ($11.25/unit) DEL in Montana, with UAN-28 posted at $306/st ($10.93/unit) DEL in Montana; $360-$380/st ($11.25-$11.88/unit) DEL in southern Oregon and southern Idaho; and $380/st ($11.88/unit) DEL in the Klamath Basin sales area.
Western Canada: UAN-28 had reportedly slipped to $335-$350/mt ($11.96-$12.50/unit) DEL in Western Canada, down $40/mt from last report, and a full $110/mt below spring pricing levels.