US NOLA: Prompt barges still short, but traders nervous

摘要

Traders are increasingly nervous that granular urea barge values have peaked at this point. Prompt values are relatively firm compared to last week. Despite these reservations, traders keep bidding up June and July barge values, albeit not to promptlevels. Prompt business was reported as high as $342/st FOB New Orleans for granular urea by midweek, with no discount for Chinese product. The low end of the range for granular urea was $315/st FOB. By the end of the week barge trades were spread across this range with position along the Mississippi River and origin affecting values. While some premium remains for barges positioned up river, most prompt business is for barges in the Gulf or for load dates within the next two weeks.