Bert Frost
Executive Vice President, Sales, Market Development and Supply Chain at CF Industries
Josh, so regarding the current dynamics, they're, I would say, constructive in that when you go around the world, where we are on supply, is -- as I mentioned earlier, the absence of Chinese tons available to the market is a three million to five million ton pool, which could be up to 10% of global seaborne traded product. And then you go through different places that have experienced gas issues or high-cost gas issues like in Europe, where we've seen Yara and others take production offline. You have, I would say, an appropriate or a limited supply basis right now.
And then when you look at demand with India stepping in for another tender and asking for one million tons to be shipped by middle December, and then, continued demand in South America and Brazil and Argentina, then you'll roll into Q1 for the Northern Hemisphere, and we believe that the U.S. and Europe are behind. And so where we are as a company, I mentioned in my prepared remarks that our inventory is limited. It is.
When you look at what has been imported and what has been exported for a net balance and then what we think others lost in production, we think the nitrogen supply and inventories, whether that be with retailers or with producers, is limited. And so that sets up a positive environment as we head into application season for the spring. Now regarding your question about fall application, that is due to start about now, fall applications of ammonia.
Our ambient temperature and soil temperature around 50 degrees. We're hitting close to that in the northern tier. We've had a very good season in Canada. And that as it moves -- the weather moves south and gets cooler, we'll see those applications pick up. The commentary about limited or limiting applications possibly has been soil moisture, not necessarily temperature. And so what you need for a healthy ammonia season is appropriate soil moisture for the ammonia to bind in the soil.
And that is what we're looking for as these rain patterns sweep across the northern tier and Iowa, then you'll see applications take off. Over the last several years, applications have gone well into December. And if that's the case, our order book, which we believe is in a very good position, and we've positioned product in our terminals, they're ready to go, that we'll have a good season, probably a better season than last year. And so -- and we have those orders already in the system.