US Gulf:
NOLA barges remained under pressure and were called $295-$300/st ($9.22-$9.38/unit) FOB, down from the week-ago $320-$330/st ($10.00-$10.31/unit) FOB range.
US Imports:
December UAN imports totaled 266,930 st, up 347.3% from the year-ago 59,674 st. July-December volumes were counted at 1.24 million st, a 3.0% increase on the prior 1.20 million st.
Russia led July-December imports with 899,395 st, beating 216,632 st from Canada and 110,807 st from Trinidad and Tobago.
US Exports:
December UAN exports were reported at 184,737 st, a 753.1% increase from the year-ago 21,656 st. Exports firmed to 1.47 million st for July-December, up 371.0% from the year-ago 312,095 st.
Eastern Cornbelt:
UAN-32 pricing dropped again, falling to $325-$350/st ($10.16-$10.94/unit) FOB river terminals in the Eastern Cornbelt, with the low for February-March shipment and the upper end for 2Q tons. UAN-28 offers were reported down to $293-$298/st ($10.46-$10.64/unit) FOB Cincinnati, below the previous week’s $315/st ($11.25/unit) level.
Western Cornbelt:
The UAN-32 market slipped to $325-$350/st ($10.16-$10.94/unit) FOB in the Western Cornbelt, depending on location and time of shipment. In the Northern Plains, delivered UAN-28 was quoted at the $390/st ($13.93/unit) level in the North Dakota market.
California:
UAN-32 prices in California were down sharply from last report. New offers were confirmed at $390-$430/st ($12.19-$13.44/unit) FOB Stockton, $435/st ($13.59/unit) FOB Port Hueneme, and $440/st ($13.75/unit) FOB West Sacramento, well below the mid-January reference prices of $570/st ($17.81/unit) FOB Stockton, $575/st ($17.97/unit) FOB Port Hueneme, and $580/st ($18.13/unit) FOB West Sacramento.
Rail-DEL pricing for UAN-32 was pegged in a broad range at $400-$480/st ($12.50-$15.00/unit) in Northern California, depending on time of shipment. While some reported the availability of EU tons at significantly higher costs near the $600/st ($18.75/unit) level due to “very poor” resupply options, no actual sales were confirmed at that level in early February.
Pacific Northwest:
The UAN-32 market in the Pacific Northwest dropped from $480/st ($15.00/unit) down to $440/st ($13.75/unit) FOB Kennewick, Wash., during the week. Rail-DEL UAN-32 pricing in the region was quoted at $480-$515/st ($15.00-$16.09/unit) in early February.
Western Canada:
UAN-28 in Western Canada was quoted at C$495-$550/mt (C$17.68-$19.64/unit) DEL for new offers, depending on location and supplier, down from the last reported C$575-$595/mt (C$20.54-$21.25/unit) DEL range.