The World Bank's latest Pink Sheet shows a mixed picture that is favourable for buyers of potash and phosphates. In September, potassium chloride averaged $367.5/t (−5.0% on August) and TSP $690.0/t (−2.0%); DAP was nearly unchanged at $800.6/t (+0.9%), and phosphate rock was flat at $170.0/t. Prilled urea, f.o.b. Middle East, averaged $407.5/t, up 4.5% (
World Bank, Pink Sheet, 2 Oct 2026).
The WTO notes that fertilizer markets adjusted despite severe disruption: in the first half of 2026, global imports of nitrogenous fertilizers were only 2.8% below recent averages and phosphatic fertilizer imports were 2.2% higher, as alternative suppliers stepped in (
WTO, 8 Oct 2026).
If you buy: reference prices are lower for potash and TSP and steadier for DAP. Compare quotes like for like — grade, origin, loading window — against these benchmarks.
If you sell: urea shows the clearest rise of the four products in September, while DAP edged up 0.9%. Benchmark moves are a starting point; your own price depends on origin, grade and timing.
Pink Sheet figures are monthly averages of reference prices, not offers for specific cargoes.
The numbers
| Monthly average | Aug | Sept | Change |
| Energy |
| Brent crude ($/bbl) | 90.9 | 116.8 | +28.5% |
| Natural gas, Europe ($/mmbtu) | 21.11 | 25.42 | +20.4% |
| LNG, Japan ($/mmbtu) | 15.27 | 14.25 | −6.7% |
| Grains & oilseeds |
| Maize ($/t) | 224.0 | 239.6 | +7.0% |
| Wheat, US HRW ($/t) | 330.0 | 347.0 | +5.2% |
| Rice, Thai 5% ($/t) | 471.0 | 482.0 | +2.3% |
| Soybeans ($/t) | 482 | 524 | +8.7% |
| Palm oil ($/t) | 1,132 | 1,180 | +4.2% |
| Metals |
| Copper ($/t) | 14,326 | 14,474 | +1.0% |
| Aluminium ($/t) | 3,251 | 3,283 | +1.0% |
| Nickel ($/t) | 16,751 | 16,324 | −2.5% |
| Zinc ($/t) | 3,875 | 4,021 | +3.8% |
| Iron ore ($/dmt) | 96.3 | 97.7 | +1.5% |
| Gold ($/oz) | 4,411 | 4,319 | −2.1% |
| Fertilizers |
| Urea, prilled, f.o.b. Middle East ($/t) | 390.0 | 407.5 | +4.5% |
| DAP ($/t) | 793.5 | 800.6 | +0.9% |
| TSP ($/t) | 704.4 | 690.0 | −2.0% |
| Potassium chloride ($/t) | 386.9 | 367.5 | −5.0% |
| Softs & timber |
| Coffee, arabica ($/kg) | 7.97 | 7.26 | −8.9% |
| Cocoa ($/kg) | 5.95 | 5.92 | −0.5% |
| Sawnwood, S.E. Asia ($/cu m) | 737.9 | 731.3 | −0.9% |
Source: World Bank, Pink Sheet — October 2026 (2 Oct 2026) (the PDF contains the full price tables); monthly averages; change = September vs August, calculated by VX247.
More from the markets
- Global trade: the WTO raised its 2026 forecast for world merchandise trade volume growth to 3.9%, from 1.9%, and expects 4.1% in 2027, citing supply chains that adapted to disruptions in energy and fertilizer markets and strong AI-related investment. Asia is expected to post the fastest export growth in 2026, at 9.9%, ahead of North America (5.7%) and Africa (5.6%); Europe is projected at −0.1% (WTO, 8 Oct 2026).
- Energy: according to the IEA, crude exports from Gulf producers rose by 4.4 mb/d (million barrels per day) to 13.9 mb/d in September, and global oil supply is projected to rise by 7.7 mb/d in 2027 (IEA, 14 Oct 2026). Brent crude averaged $116.8/bbl in September, against $90.9 in August (World Bank Pink Sheet). The US EIA expects Brent to average $105 in the fourth quarter of 2026 and $84 in 2027 (EIA, 6 Oct 2026).
- Food and grains: the FAO forecasts 2026 world cereal production at 2,979 million tonnes, the second-largest harvest on record (FAO, 2 Oct 2026). The FAO Food Price Index stood at 136.0 in September, up 1.5% on August, with cereals up 5.1% and sugar up 6.1% (FAO, 2 Oct 2026). In its October WASDE, the USDA raised its US corn yield estimate to 181.2 bushels per acre and projects 2026/27 world production at 822.4 million tonnes for wheat, 1,293.8 for maize and 533.1 for milled rice (USDA, 9 Oct 2026).
For buyers and sellers across all commodities, the practical point is that conditions differ by product and route. Verifying actual availability, loading origin and delivered cost remains the basis for turning a market signal into a concluded transaction.