U.S. Gulf: While the prompt granular urea barge market continues to pop, sources said UAN price ideas are wilting. Though some sources still put recent trades at $240-$245/st ($7.50-$7.67/unit) FOB, others say prompt product can be bought at $230-$235/st ($7.19-$7.34/unit) FOB, if not lower.
In the meantime, while most had been putting East Coast vessel tons in the $250-$255/mt CFR price range, there were reports last week that product may now be available for as low as $242/mt CFR.
Eastern Cornbelt: UAN-28 remained at $265-$285/st ($9.46-$10.18/unit) FOB in Ohio and Indiana, while Illinois contacts quoted the UAN-32 market at $305-$320/st ($9.53-$10.00/unit) FOB and $315-$325/st ($9.84-$10.16/unit) rail-DEL.
Western Cornbelt: UAN-32 was quoted in a broad range at $300-$315/st ($9.38-$9.84/unit) FOB in the Western Cornbelt, with the low in southern Missouri and the upper end in the Iowa market.
An Iowa contact said UAN demand has picked up as growers start to move into the post-planting application phase. Due to the late start to planting in the region, dealers are reporting that fully half of the farmers in their respective trade areas plan to apply some of their nitrogen needs after the corn is up.
Southern Plains: UAN-32 was quoted at $270-$290/st ($8.44-$9.06/unit) FOB in the Southern Plains, with the upper end out of regional production locations and the low quoted at terminals on the coastal bend of Texas.
South Central: The UAN-32 market remained at $285-$300/st ($8.91-$9.38/unit) FOB in the South Central region, with the low at Memphis.
Southeast: Sources reported continued pressure on UAN pricing in the Southeast, driven by new vessel indications at even lower values.
Sources quoted the UAN-32 market at the $260/st ($8.13/unit) FOB level out of port terminals in the region, down some $15/st from early April pricing levels. The upper end of the regional market was reported at the $8.44/unit FOB level out of inland terminals in Georgia.
Egypt: Koch reportedly bought some 25,000-30,000 mt of product in the recent Abu Qir tender and has slated the material to go to Europe in May. Sources said the destination will take some pressure off the U.S. market.