But not in dear old Canada where every one else makes money and farmers pay pay pay!
Export ammonia tons from Yuzhnyy, FSU, traded at $58 to $590 early and at month's end had plummeted to $460 to $500. Demand from industrial buyers in China and other Far East markets continued soft and some were reportedly planning maintenance shutdowns in January. At mid-month, Mississippi Phosphates Corporation petitioned for bankruptcy protection and stopped production of DAP. There were production issues in several ammonia exporting countries like Algeria, Egypt, Indonesia and Trinidad, but they were not sufficient to overcome the general malaise in demand. OCP, Morocco, was reportedly in talks to purchase U.S. ammonia from Koch and CF Industries in January. This would be the first ammonia export cargo from the U.S. in some time. Late in December, the January price for import ammonia tons settled at $625 per metric ton, down $80 from December. We expect world ammonia prices to run flat to lower in the short term. Domestic ammonia prices at interior terminals traded at around $650 early, dropped to $610 by mid-December and then recovered slightly to $625 at month's end. Fall plowdown demand had been slow early in the month, which pressured prices lower. However, weather conditions improved in late December and demand resurfaced. There were reports of at least modest levels of carryover tons in the Corn Belt, which persisted even after the late improvement in demand. For the short term, we expect domestic ammonia prices to run flat with an undertone of strength.
I still say a fair price for pre buy would have been .52 delivery included.
Export ammonia tons from Yuzhnyy, FSU, traded at $58 to $590 early and at month's end had plummeted to $460 to $500. Demand from industrial buyers in China and other Far East markets continued soft and some were reportedly planning maintenance shutdowns in January. At mid-month, Mississippi Phosphates Corporation petitioned for bankruptcy protection and stopped production of DAP. There were production issues in several ammonia exporting countries like Algeria, Egypt, Indonesia and Trinidad, but they were not sufficient to overcome the general malaise in demand. OCP, Morocco, was reportedly in talks to purchase U.S. ammonia from Koch and CF Industries in January. This would be the first ammonia export cargo from the U.S. in some time. Late in December, the January price for import ammonia tons settled at $625 per metric ton, down $80 from December. We expect world ammonia prices to run flat to lower in the short term. Domestic ammonia prices at interior terminals traded at around $650 early, dropped to $610 by mid-December and then recovered slightly to $625 at month's end. Fall plowdown demand had been slow early in the month, which pressured prices lower. However, weather conditions improved in late December and demand resurfaced. There were reports of at least modest levels of carryover tons in the Corn Belt, which persisted even after the late improvement in demand. For the short term, we expect domestic ammonia prices to run flat with an undertone of strength.
I still say a fair price for pre buy would have been .52 delivery included.
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