Central Florida: DAP trucks continued to trade at $430/st FOB last week, sources confirmed. Truck-loaded MAP was listed $20/st higher at $450/st FOB, although no sales were reported.
U.S. Gulf: The NOLA barge market took a breather last week, with sources reporting lower trade volumes than those seen in recent periods. DAP prices were mostly flat, although MAP was said to have strengthened.
While some expected fresh direction out of the Southwestern Fertilizer Conference, the sudden possibility of greater-than-expected imports in the third quarter muddied the waters instead. The news of a diverted Chinese DAP and MAP vessel expected to discharge in August was followed by unconfirmed reports of an additional pair of cargoes rumored to arrive in August or September – one from Moroccan producer OCP and the other from Russian fertilizer giant PhosAgro.
Sources said new imports would most heavily affect DAP supplies, which had been characterized as ample through the third quarter. MAP was in shorter supply, but may also benefit from a boost. “There’s optimism on MAP because there’s not much of it,” one contact said. “DAP there’s plenty of.”
The prompt DAP market was unchanged at $433-$438/st FOB. MAP was put at $442-$445/st FOB, up from $435-$445/st FOB the week before.
Eastern Cornbelt: DAP was quoted at $460-$470/st FOB in the Eastern Cornbelt, with MAP $10/st higher than DAP.
Sources continued to report the last prompt 10-34-0 business at the $560-$590/st FOB level in the region. Effective Aug. 1, Agrium’s phosphoric acid postings for rail-DEL SPA and MGA are slated to firm to $1,020/ton of P2O5 in Wisconsin, and $1,060/ton of P2O5 in Michigan.
Western Cornbelt: DAP pricing out of regional warehouses had firmed to $460-$470/st FOB, with MAP quoted at $470-$480/st FOB in the Western Cornbelt.
10-34-0 remained at $565-$590/st FOB for the last confirmed sales. Effective Aug. 1, Agrium’s phosphoric acid postings for rail-DEL SPA and MGA are slated to firm to $1,020/ton of P2O5 in Nebraska, Missouri, Iowa, and Minnesota, and $1,035/ton in the Dakotas.
Southern Plains: DAP had reportedly firmed to $465-$470/st FOB Catoosa, up $10/st from last report, with MAP roughly $5/st higher at the port.
Sources continued to quote the 10-34-0 market at $545-$570/st FOB in the Southern Plains for the last sales. One contact said he expects “very tight” 10-34-0 supplies again for the 2016 planting season due to acid production cutbacks.
Effective Aug. 1, Agrium’s phosphoric acid postings are slated to firm $60/ton of P2O5, to $1,020/ton for rail-DEL SPA and MGA in Colorado and Kansas, and $1,035/ton for rail-DEL SPA and MGA in Oklahoma and Texas.
South Central: DAP was reported in the $465-$470/st FOB range out of warehouses in the South Central region, reflecting a $5/st increase from last report. TSP had firmed slightly as well, to $410-$415/st FOB in the region.
U.S. Export: Mosaic announced the sale of 6,000 mt of DAP into Latin America last week. The cargo was due to sail in August and carried a price tag of $465/mt FOB.
The U.S. Gulf phosphate market was called $465/mt FOB for the week based on confirmed transactions, down from $470/mt FOB at last report.
The contract price of phosphoric acid to India is $810/mt for second-half 2015.
Brazil: The Brazil MAP market grew murkier last week. Sources confirmed trades on a softening market as low as $470/mt CFR. However, Moroccan producer OCP was said to claim transactions into the market at $490/mt CFR.
Saudi Arabia: Rumors describe