US NOLA: MAP shortfall drives barges $110/st higher

摘要

Near exhausted supplies of DAP and MAP at New Orleans supported sharply higher prices in the prompt and forward markets throughout this market week. By the end of the week MAP was up a whopping $110/st FOB at New Orleans for prompt and forward barges. Physical trades were almost exclusively for March loaders. By the end of the week many traders confirmed they would happily pay the peak price of the week of $550/st FOB for prompt MAP. Those bids did not succeed because physical January and early February barges are reported to be exhausted.