U.S. Gulf: Barges continued to be called tight and at $360-$365/st FOB.
Eastern Cornbelt: Potash pricing was firm at $390-$397/st FOB regional warehouses in the Eastern Cornbelt, with the low for red granular and the high for white granular tons.
Western Cornbelt: The granular potash market was quoted at a firm $390-$397/st FOB in the Western Cornbelt.
“Continued delayed shipments have people concerned for fall supply,” said one regional contact.
Northern Plains: Minnesota sources quoted the granular potash market at $385-$390/st FOB, with delivered tons in North Dakota pegged in the $390-$400/st range. Potash pricing FOB Saskatchewan mines remained at $345/st for standard, $350/st for granular, and $357/st for soluble sales to U.S. customers.
Northeast: The granular potash market was reported firmly in the $390/st FOB range out of regional warehouses in the Northeast, with rail-DEL tons pegged at the $400/st mark.
Eastern Canada: Potash pricing remained at a firm $470/mt FOB for limited tons out of Eastern Canada warehouses.
K-Mag was also in tight supply, with some warehouses out of product last week. The market remained at $535/mt FOB in Eastern Canada for the last tons sold, although one source said pricing levels will be at the $590/mt FOB level when warehouse inventories are replenished.
Sources reported a similar gap in sulfate of potash prices. The low end of the range was reported at the $769/mt FOB level “if any tons are available,” while others claimed the SOP market was currently sold out and would move to a firm $880/mt FOB when tons become available again.
Malaysia: There were unconfirmed reports that a standard cargo was sold into the country for as low as $295/mt CFR.
While some pounced upon this, saying it might be a bellwether for the next round of contracts, others noted that BPC – the Belarus Potash Company – had earlier announced that it had lined up business in Malaysia.
Sources called this an outlier, saying that other major suppliers are not likely to follow in contracts with China and India.