U.S. Gulf:
NOLA UAN was reported at $440-$450/st ($13.75-$14.06/unit) FOB, down from the week-ago $440-$460/st ($13.75-$14.38/unit). Nutrien posted a price of $450/st ($14.06/unit) on July 8, with most sources awaiting word on a CF fill program.
There was much speculation as to when the fill program might come, with most saying it would likely be some time after the U.S. International Trade Commission’s July 18 decision on imports from Russia and Trinidad and Tobago.
U.S. Imports:
May UAN imports were noted at 77,809 st, off 74.4% from 304,070 st in the prior year. July-May totals stood at 1.62 million st, falling 32.5% from the year-ago 2.40 million st.
Trinidad and Tobago continued to lead July-May imports despite logging no new U.S. imports for the March-May period. Cargoes loading from Trinidad and Tobago held flat at 542,614 st, off 37.1% from the year-ago 863,280. Russia followed with 497,281 st, down 48.8% from the prior-year period. Canada added 438,969 st.
U.S. Exports:
UAN exports for May firmed 12.3% year-over-year, to 78,441 st from 69,852 st. July-May exports were 24.0% lower, however, to 515,109 st from 678,068 st in the prior year.
Eastern Cornbelt:
The UAN-32 market remained at $515-$545/st ($16.09-$17.03/unit) FOB in the Eastern Cornbelt, depending on location, with the low reported at Cincinnati. UAN-28 offers at Cincinnati were steady at the $480/st ($17.14/unit) FOB level at mid-month.
No fill offers were circulating, with most sources saying they expect some programs to be announced after July 18.
Western Cornbelt:
UAN-32 remained in a broad $480-$520/st ($15.00-$16.25/unit) FOB range for prompt tons in the Western Cornbelt, depending on location. No fill programs were out yet.
“If UAN doesn’t drop significantly, then fill will be very light,” predicted one regional source. “Dealers are sitting on very high receivables and not in the mood to buy much until they collect money.”
Northern Plains:
The last reported prompt offers for UAN-32 were pegged at the $595/st ($18.59/unit) level FOB Winona and Pine Bend, Minn. Prompt UAN-28 pricing out of terminals in North Dakota was reported as low as $475/st ($16.96/unit) FOB for new offers.
Northeast:
UAN-32 prices in the Northeast were under pressure as the industry awaits fill program offers. Prompt pricing FOB Baltimore dropped to $635/st ($19.84/unit), down from $660-$685/st at last report, with new offers out of terminals in upstate New York reported at the $600/st ($18.75/unit) FOB level, down from the earlier $616/st.
UAN-32 prices fell even more in the Southeast, where sources confirmed new prompt offers for as low as $480/st ($15.00/unit) FOB Augusta, Ga., in mid-July.
Eastern Canada:
The UAN-28 market covered a wide range at C$760-$850/mt (C$27.14-$30.36/unit) FOB in Eastern Canada, down from the last reported C$838-$925/mt (C$29.93-$33.04/unit) FOB level. UAN-32 pricing in the Ontario market slipped to C$868/mt (C$27.13/unit) FOB, below the C$955/mt (C$29.84/unit) FOB level reported in late June.