US NOLA: Prompt market flat, forward higher

摘要

Prompt granular urea values held relatively flat week over week. On the other hand late trading focused on forward business yielding higher prices for November and December physical positions as some traders continue to bet on a Q4 rebound. In prompt business the $7-8/st gain on the average low price seen during September is supported by some domestic traders and especially importers. However, enduser markets along the upper Mississippi and Arkansas rivers still do not support prices much above $187/st FOB with a margin. The seasonal closure of the upper Mississippi River is already underway will limit spot barge sales opportunities for importers, but may isolate northern markets enough to support higher warehouse pricing in the Corn Belt.