No matter how you look at it, NDSU Agricultural Risk Policy Center Associate Director Shawn Arita says the outcome of the Strait of Hormuz’s closure isn’t good. “Even in the most optimistic scenario, we are going to expect elevated prices through the fall purchasing period and moving into 2026.” For post-harvest bookings for the new crop, urea prices will likely push higher. “We were hovering about $470 before the Straight of Hormuz (closure), we would still see those prices elevated to more than $600, and that’s in the best-case scenario.”
