The closure of the Strait of Hormuz has primarily impacted energy markets; plenty of grain moved through this waterway in the past as well. The shipbroker, Simpson Spence Young, said nearly 40 million tons of ag products were imported into this region in 2025. With only a couple of months of activity before the war began, year-over-year grain shipments through the Strait are down 75 percent to just 3.4 million tons. Brazil has been hit hard because it was a major exporter to the region before the conflict began.
