US Gulf:
The NOLA UAN barge market remained at $240-$245/st ($7.50-$7.66/unit) FOB based on the latest indication, though no new transactions were confirmed during the week. Sources said firming inland terminal prices and a perception of tight supply suggests the next barge business will be at a higher level, however.
Eastern Cornbelt:
UAN offers were pulled at many Eastern Cornbelt terminals during the week. The prices that were reported were up another $5-$10/st, to $300-$310/st ($9.38-$9.69/unit) FOB for UAN-32.
Sources quoted the Mount Vernon, Ind., market firmly at the $310/st ($9.69/unit) FOB level for March-April tons, while the Cincinnati market was pegged at $300-$310/st ($9.38-$9.69/unit) FOB for UAN-32 and $260-$275/st ($9.29-$9.82/unit) FOB for UAN-28.
Western Cornbelt:
UAN-32 was pegged at $290-$310/st ($9.06-$9.69/unit) FOB terminals in the Western Cornbelt, up another $10/st, depending on location.
California:
UAN-32 pricing in California remained at $340-$350/st ($10.63-$10.94/unit) FOB Stockton, with rail-DEL tons quoted at $355-$365/st ($11.09-$11.41/unit) in the state, depending on location.
Pacific Northwest:
UAN-32 firmed to $330-$340/st ($10.31-$10.63/unit) FOB regional terminals in the Pacific Northwest, up from a flat $320/st ($10.00/unit) FOB in early February. Delivered pricing was pegged in the $325-$350/st ($10.16-$10.94/unit) range in the region, with the low confirmed for unit trains.
Western Canada:
UAN-28 prices in Western Canada remained at C$455-$480/mt (C$16.25-$17.14/unit) DEL, with the low for February-March tons and the high for April-May shipments.
France:
UAN prices in France were flat at €250-€260/mt FCA, with tanks remaining full as delayed application has prevented inventories from being drawn down. End users believe they can afford to wait for a further price correction, given the overall bearishness in natural gas and ammonia, and the rainy weather seems to be working in their favor.
About 200,000-250,000 mt of France’s over 2 million mt of consumption are believed to not yet be covered. Sources speculated that summer offers, which could appear as early as March, will have to be significantly lower to reflect the current environment of low grain prices and subdued natural gas prices.