US NOLA: DAP support retreats from higher offers

摘要

Last week's enthusiasm for DAP and MAP barges has slowed with prompt buyers reluctant to pay above the mid $270s/st FOB New Orleans, even though some forward business was done at $280/st FOB last week. Multiple domestic traders are predicting that if the New Orleans market moves to $280-290/st FOB, then overseas suppliers from Russia will boost shipments to the US to arrive in July- August. Such prices also might be enough to convince Morocco's OCP to boost the moderate export pace it has taken so far this year to the US.