Central Florida: DAP offered on the Central Florida market continued to be listed at $430/st FOB, with MAP called $20/st higher.
Citing plunging NOLA DAP paper swap prices for November and December, some traders speculated that a price drop was likely in the short term.
U.S. Gulf: Prices on the NOLA barge market softened last week ahead of The Fertilizer Institute’s (TFI) World Conference in Boston, with prompt DAP numbers generally falling in a range of $420-$427/st FOB.
Domestic product was responsible for the upper end of the range, with imports coming in at lower levels. Confirmed import MAP barges were reported at $430/st FOB, while domestic product was called up to $435/st FOB. Rumors of DAP and MAP transactions as low as $415/st and $425/st FOB, respectively, went unconfirmed.
In addition to the limited quantities of domestic DAP and MAP, a supply of “beige” PhosAgro MAP was also reportedly offered. A cargo of Moroccan product reported to be evenly split between DAP and MAP was rumored to be unloading on Sept. 24, and an additional cargo of Moroccan material was reportedly due at NOLA shortly.
Mosaic last week announced that it would continue operating at reduced phosphate production levels through the fourth quarter due to projected demand hovering near the low end of previous estimates. The announcement came as no surprise to the market, although some market players questioned the timing.
“It’s something that everyone expected, but I’m surprised we’re hearing it this late,” one trader said. “I think a lot of people are still waiting on their September barges, so maybe (Mosaic) didn’t want to spook them into thinking they weren’t getting their orders.”
The prompt NOLA barge market was quoted in a range of $420-$427/st FOB last week, down from $427-$428/st FOB at last report. Sources put MAP at $430-$435/st FOB, down from the previous week’s $435-$438/st FOB range.
Eastern Cornbelt: DAP pricing had reportedly slipped to $455-$465/st FOB regional warehouses in the Eastern Cornbelt, with the low reported out of spot river locations in the Illinois market last week. MAP was pegged at $465-$475/st FOB in the region, reflecting a $3-$5/st drop from last report.
10-34-0 remained at $530/st FOB in the Eastern Cornbelt.
Agrium’s phosphoric acid postings will firm $10/st on Oct. 1, with rail-DEL SPA and MGA prices moving to $1,040/st of P2O5 in Wisconsin and $1,080/st in Michigan.
Western Cornbelt: DAP pricing had reportedly slipped to $455-$465/st FOB in the Western Cornbelt, down $5/st from last report, with MAP quoted in the $465-$475/st FOB range.
The 10-34-0 market was reported at $525-$535/st FOB for limited tons in the region.
Effective Oct. 1, Agrium’s phosphoric acid postings are slated to firm another $10/st of P2O5 from September pricing levels, moving to $1,040/st for rail-DEL SPA and MGA in Nebraska, Missouri, Iowa, and Minnesota, and $1,055/st rail-DEL in the Dakotas.
Southern Plains: DAP was quoted at $455-$465/st FOB Catoosa to the dealer, down $5/st from last report, with MAP pegged in the $465-$475/st FOB range at the port. One regional contact said he anticipates fall rate cutbacks on dry phosphates in his trade territory. “I think some liquidation is trying to occur” as a result, he said.
The 10-34-0 market was pegged at $515-$530/st FOB in the Southern Plains, up slightly from last report. Sources continued to describe supplies of finished tons and acid as “limited” in the region.
Effective Oct. 1, Agrium’s phosphoric acid postings will firm $10/st of P2O5 from September pricing levels, moving to $1,