U.S. Gulf: Major players were out with fill programs last week. Sources put netbacks to NOLA in the $205-$220/st ($6.41-$6.88/unit) FOB range, with other saying early-week trades were as low as $200/st ($6.25/unit) FOB, if not lower. Sources maintain that after the fill announcement, barge business did occur as high as $210-$220/st ($6.56-$6.88/unit) FOB, making an overall range for the week $200-$220/st ($6.25-$6.88/unit) FOB.
The last done East Coast vessel trade continued to be called $225/mt CFR. The market was reported as quiet, with sellers now quoting $235-$240/mt CFR.
Eastern Cornbelt: Much lower UAN prices were reported in the Eastern Cornbelt last week as the regional market resets from prompt to summer fill sales.
UAN-32 fill programs announced on June 25 were quoted at $250-$260/st ($7.81-$8.13/unit) FOB for tons shipped in July and August, with the upper end also quoted for rail-delivered fill tons into parts of the region.
Ohio sources on June 25 reported UAN-28 fill offers at $225/st ($8.04/unit) FOB Cincinnati for shipments beginning in July. Prompt UAN was still quoted at the $244-$250/st ($8.71-$8.93/unit) FOB level in Cincinnati last week, although there were few new sales to test that market.
Western Cornbelt: Sources said CF Industries announced a summer fill program for UAN on June 25, with a number of other regional suppliers following suit.
The programs were reportedly offering tons for July-September shipment in the $245-$260/st ($7.66-$8.13/unit) FOB range out of most Midwest terminals, depending on location, with the Southern Plains fill market pegged in the $225-$230/st ($7.03-$7.19/unit) FOB range. Specific postings included $250/st ($7.81/unit) FOB Port Neal, Iowa, $230/st ($7.19/unit) FOB Woodward, Okla., and $225/st ($7.03/unit) FOB Verdigris, Okla.
Several sources said the CF program was accepting orders for one day only on June 25, but that provision was not confirmed. In areas of the Western Cornbelt where UAN tons were still being sold for prompt sidedress demand, sources quoted the spot market at the $285/st ($8.91/unit) FOB level last week.
Northern Plains: The UAN-28 market remained at $260-$280/st ($9.29-$10.00/unit) FOB in the Northern Plains, with the low quoted in the Twin Cities and the upper end out of North Dakota terminals. With tons still being pulled for sidedress demand in the Northern Plains, sources said no UAN summer fill programs were being offered yet in the region.
Northeast: Sources quoted the UAN-32 market at $240-$245/st ($7.50-$7.66/unit) FOB Baltimore, Md., reflecting another slight drop from last report. The low end was confirmed for new spot sales to meet lingering sidedress demand in the Northeast, although several contacts said “shipments are winding down” in the region.
Out of terminals in upstate New York, the UAN-32 market had reportedly slipped to $300/st ($9.38/unit) FOB, down from $304/st ($9.50/unit) FOB at last report.
Eastern Canada: UAN-28 pricing in Eastern Canada was tagged at $338-$340/mt ($12.07-$12.14/unit) FOB regional terminals, down slightly from May pricing levels.