US Midwest: Movement strong, but plenty of supply

摘要

The vast majority of spring pre-plant ammonia has been applied in the Midwest, but distributors and retailers anticipated the demand and still hold plenty of supply, according to market participants throughout much of the supply chain. Despite the slightly bearish tone from distributors, there was a consensus this week that the cheapest offers to retailers in prior weeks continue to disappear, with an overall range of $625-650/st FOB reported this week. This is up and average of $2-3/st from the week before. Last week's range of $620-650/st FOB was an increase of $10/st from the week ended 8 April.