Central Florida: Sales of truck-loaded DAP were reported in the Central Florida market last week at a price of $430/st FOB, sources confirmed. No railcar transactions were revealed.
As a result, market players quoted the Central Florida phosphate market at $430/st FOB for the week, down from $430-$435/st FOB the week before. MAP was $20/st higher than DAP at $450/st FOB, down from $450-$455/st FOB the week before.
U.S. Gulf: Sources described a continuing standoff in the NOLA barge market. Most market players quoted prompt barges in a range of $419-$421/st FOB, but price ideas on both the high and low ends of the market were wildly divergent.
Some sources claimed sub-$420s/st FOB barges were a myth. These contacts declared a price floor consisting of Russian DAP offered at no less than $424/st FOB, while Moroccan and domestic product comprised the market’s top end in the $430s/st FOB.
Others mentioned $410/st Russian DAP offers, however, with domestic offers in the $417-$420/st FOB range. MAP was mostly called $425-$430/st FOB.
Third-quarter DAP paper traded at $421/st FOB.
Despite the divergent price ideas, sources were generally in agreement on the source of the standoff, citing the low price of corn futures relative to ongoing strength in international phosphate markets. The farmers’ unwillingness to pay prices necessary to keep domestic material from moving offshore has suppressed the barge price, enticing sellers to offer greater volumes on the more lucrative international markets instead.
The NOLA barge market was generally quoted at $419-$421/st FOB, up slightly from the previous week’s $418-$421/st FOB. MAP was unchanged at $425-$430/st FOB.
Eastern Cornbelt: DAP was pegged at $450-$460/st FOB in the Eastern Cornbelt, with the low end reported in Cincinnati. MAP was quoted in the $460-$475/st FOB range in the region, depending on location.
10-34-0 remained at $560-$600/st FOB for the last spot business in the region, but, as one source noted, “I have not priced any in some time.”
Western Cornbelt: DAP remained flat at $450-$460/st FOB in the Western Cornbelt, with MAP some $10-$15/st higher than DAP, depending on location.
10-34-0 remained at $565-$590/st FOB for the last confirmed sales, but several sources described the price as a “non-issue” last week due to the seasonal lack of demand.
Northern Plains: DAP was quoted at $455/st FOB the Twin Cities, with MAP $10/st higher at that location. North Dakota sources quoted the last MAP sales at the $500/st FOB level out of warehouses in the state, but there was minimal business to test the current market last week.
The 10-34-0 market remained at $555-$560/st FOB for the last business in the Northern Plains, but sources reported no current activity in that market last week.
Northeast: MAP was unchanged at $475-$480/st FOB in the Northeast, with DAP roughly $5/st less. The low end of both ranges was quoted in the East Liverpool market last week.
10-34-0 was quoted at the $560/st FOB level out of terminals in upstate New York, down a full $35/st from early June pricing levels.
Eastern Canada: MAP was steady at $710-$720/mt FOB in Eastern Canada.
U.S. Export: Transactions totaling 27,000 mt of DAP and MAP were announced out of the U.S. Gulf last week. The cargoes, priced in a range of $470-$475/mt FOB, were destined for Eastern Canada and various Latin American countries, sources said. Shipping was slated for July and August.
The Gulf export market was quoted in a range of $470-$475/mt FOB for the week on confirmed transactions, slightly higher than th