U.S. Gulf:
NOLA barges continued to be quoted in the $545-$550/st ($17.03-$17.19/unit) FOB range. Prior to the dip in this week’s urea prices, sources had been expecting another boost in UAN prices in the near term.
Eastern Cornbelt:
UAN-32 pricing was quoted at $605-$635/st ($18.91-$19.84/unit) FOB regional terminals, depending on location and time of shipment, with the low confirmed for the last prompt offers and the high for Q1 tons. The last UAN-28 business at Cincinnati, Ohio, was reported at the $520/st ($18.57/unit) FOB level for prompt and $550-$555/st ($19.64-$19.82/unit) FOB for Q1.
Michigan sources said they expect spring UAN-28 pricing in the $570-$580/st ($20.36-$20.71/unit) FOB range when new offers are released.
Western Cornbelt:
The UAN-32 market was quoted at $590-$620/st ($18.44-$19.38/unit) FOB in the Western Cornbelt for the last prompt tons, with Q1 offers pegged in the $610-$635/st ($19.06-$19.84/unit) range, depending on location.
Northern Plains:
UAN-32 pricing remained at $595/st ($18.59/unit) FOB Winona, Minn., and $615/st ($19.22/unit) FOB Pine Bend, Minn, for the last reported offers, while the UAN-28 market continued to be reported at $540-$550/st ($19.29-$19.64/unit) FOB in North Dakota.
Northeast:
UAN-32 pricing in the Northeast continued to inch higher in some locations, with new offers quoted at $685/st ($21.41/unit) FOB terminals in upstate New York, up $10/st from last report.
The market FOB Baltimore was pegged at $605-$620/st ($18.91-$19.38/unit) FOB, with the low reported for spot tons from a “secondary supplier.” No current offers were reported at Fairless Hills during the week.
Eastern Canada:
The UAN-28 market was quoted at C$775-$798/mt (C$27.68-$28.50/unit) in Eastern Canada, up from C$735-$775/mt (C$26.25-$27.68/unit) FOB in mid-November. UAN-32 pricing firmed to C$912/mt (C$28.50/unit) FOB on a spot basis in Ontario, up a full C$73/mt from last report.
“There are some rumblings about spring prepay programs,” said one regional source. “I am not aware of anyone out yet, but I suspect they will be shortly.”
France:
UAN prices in France are reported to have dipped a tad for prompt tons, despite continuing tight supply fundamentals. Prices for prompt UAN-30 were heard at just below €600/mt FCA at Rouen. This week’s price range has accordingly been adjusted to €598-€610/mt FCA.
Russia:
The Russian government is limited exports of UAN to 1.1 million mt from December 2021 through May 2022. The allocation is not far off from the exports of UAN during the same period in the past three years.