Escalating tensions between the US and Iran has led to the closure of the Strait of Hormuz, adding immense pressure to global fertilizer markets. StoneX Vice President of Fertilizers Josh Linville says it’s bad timing for farmers as they get ready to start the planting season. “This could not be happening at a worse time. Spring is still 30 to 60 days away, but half of our urea imports come from the Middle East region. Just because the vessel loads up does not mean it’s here and available to us. It still takes that vessel 30 days to arrive to our shores, and another two to four weeks to get that product through our system.”
