In the Permian basin, FOB Kermit 100m and 40/70m sand prices have increased since last week, with prices rising by $0.75 per ton each. Northern White Odessa 40/70m sand prices have remained relatively flat, staying within a $0.25 per ton bandwidth since last week, suggesting continued limited demand relative to in-basin supply.
We continue to hear from the PanXchange network that the frac sand market continues to showcase optimism regarding stable WTI prices in excess of $60 per barrel. In the Permian basin, FOB Kermit 100m and 40/70m sand prices have remained relatively flat since last week, with prices falling by $0.05 and $0.15 per ton respectively. Prices still remain at relatively high levels, as WTI prices have stabilized above $60 per barrel. Northern White Odessa 40/70m sand prices have fallen by $0.30 per ton since last week, suggesting that Northern White’s use as a substitute product is fading as in-basin supply and logistics operations continue to ramp up.
After a week of debate at the government level, Kenya removed the ban on maize from Tanzania and Uganda and introduced stricter measures as a way to manage the quality that is entering the country after a number of trucks were received with high levels of aflatoxins.
The frac sand market continues to showcase optimism regarding rising WTI prices.
In the Permian basin, FOB Kermit 100m and 40/70m sand prices have remained relatively flat since last week, with prices falling by $0.05 and $0.25 per ton, respectively. Prices remain at relatively high levels, as WTI prices have stabilized in the $65 per barrel range. Northern White Odessa 40/70m sand prices have fallen by $1.00 per ton bandwidth since last week, suggesting that Northern White’s use as a substitute product is limited as in-basin supply and logistics operations have come back online.
The frac sand market is showcasing optimism regarding rising WTI prices.
Permian deliveries and sand plant operations are quickly rebounding from the inclement weather curtailments, and reports from PanXchange’s communication channels suggest that things are almost “back to normal.” FOB Kermit 100m and 40/70m sand prices have remained relatively flat since last week, with prices falling by $0.05 and $0.40 per ton, respectively. Prices remain at relatively high levels amid a steadily rising WTI price. Northern White Odessa, 40/70m sand, rose by $2.00 per ton since last week, suggesting that operators are beginning to assess the completion of higher breakeven Permian wells that could maximize profitability via Northern White sand.
Maize imports from Uganda to Kenya have seen a five-fold increase in January compared to the same period last year after traders continued to cross the border to meet the demand by the millers who are now seeing the price stabilise within the range of KES 2,800 per 90 kg bag as reported in the Business Daily.
The frac sand market has begun to cool off amid the aftermath of a historic winter storm hitting the United States, particularly in the US south.
The Permian continues to experience substantial difficulties related to the unprecedented cold weather snap that has extended to the southern reaches of the United States. Prices have fallen on a per-ton basis as deliveries and sand plant operations are quickly rebounding from the inclement weather curtailments. As such, in the Permian, FOB Kermit 100m and 40/70m sand prices have fallen by $2.50 and $2.00 per respectively since last week. Prices still remain at relatively high levels, amid a steadily rising WTI price. Northern White Odessa 40/70m sand prices remained relatively flat, as prices stayed within $0.05 per ton bandwidth since last week, suggesting continued limited demand for Northern White products in the Permian.
As most of you know, the PanXchange team has worked very hard over the years to provide transparency and intelligence to markets that were previously completely opaque and inefficient. Hemp is not the first market we cover, but it is the most exciting with the most growth potential.
One of our competitors is quite frustrated with the market share that PanXchange has earned and has consequently turned to a federal lawsuit in an attempt to drain our resources. Specifically, they’re attempting to block us from using the term “hemp benchmarks” when there is no substitute for “hemp,” and the USPTO has declared “benchmark” as merely descriptive and not protected. Please see this link for details on the suit.
The frac sand market continues to be action-packed heading into this week, with huge price movements for Northern White and in-basin sand.
The National Cereal and Produce Board of Kenya have started buying maize grain at KES 2,700 per 90 kg bag from growers as an attempt to receive more grain that farmers were selling to millers and traders that offered a higher price.