Permian frac sand prices continue to hold steady this week, with FOB Kermit 100m and 40/70m prices rising by $0.25 and $0.50 per ton each this week. The market for FOB Kermit 40/70m remains tight this week, with a slightly greater pickup in demand than expected relative to current production levels. This is evidenced by the widening of the 100m-40/70m spread at Kermit. FOB Odessa Northern White sand prices remained flat again this week, suggesting continued limited demand for Northern White products in the Permian.
In the Permian basin, FOB Kermit 100m and 40/70m sand prices have increased since last week, with prices rising by $0.15 per ton and $1.00 per ton respectively. Northern White Odessa 40/70m sand prices fell by $0.30 per ton since last week, suggesting continued limited demand relative to in-basin supply.
Our hemp team continues to make progress with the roll out of the trading platform for fiber and hurd. As many of you know, we are finalizing the trading terms such as the quality specifications required by commercial buyers (vs cannabinoids where we allowed the listing of any quality variation). The faster we can establish standard commercially viable terms, the faster this sector of the market can grow.
In the Permian basin, FOB Kermit 100m and 40/70m sand prices have converged since last week, with 100m prices rising by $1.75 per ton and 40/70m falling by $1.00 per ton. This is the result of an acute near-term relative supply squeeze on 100m sand in the Permian as activity continues to hold strong. Northern White Odessa 40/70m sand prices fell by $0.40 per ton since last week, suggesting continued limited demand relative to in-basin supply.
In the Permian basin, FOB Kermit 100m and 40/70m sand prices have decreased since last week, with prices falling by $0.15 per ton each. Northern White Odessa 40/70m sand prices fell by $0.50 per ton since last week, suggesting continued limited demand relative to in-basin supply.
The Cereal Millers Association (CMA) in Kenya has lobbied the government to start issuing certificates of conformity to allow the importation of maize grain from Uganda and Tanzania to avert a possible shortage in the country as prices remain high.
In the Permian basin, FOB Kermit 100m and 40/70m sand prices have remained relatively stable, falling by $0.20 per ton each since last week. Northern White Odessa 40/70m sand prices fell by $1.00 per ton since last week, suggesting continued limited demand relative to in-basin supply.
In the Permian basin, FOB Kermit 100m and 40/70m sand prices have decreased since last week, with prices falling by $0.40 per ton each. Northern White Odessa 40/70m sand prices fell by $2.00 per ton since last week, suggesting continued limited demand relative to in-basin supply.
Traders are still facing challenges with importing maize into Kenya after the Agriculture Ministry confirmed that most have failed to conform with the new guidelines that include aflatoxin tests allowing maximum 10 parts per billion, registration of all traders and issuing details of the warehouse of where the grains were held.
Our estimates show 2021 demand will require just 1,650 acres of CBD using Neisen’s 2021 $3.5 billion sales estimate.