With the Strait of Hormuz reopening, Heartland Investor Services Commodity Trading Advisor Eugene Graner is focused on the movement of fertilizer out of the Persian Gulf. Brazil imports 85 percent of its fertilizer and will be competing with the U.S. for that supply. “What are the implications of Brazil fighting for this fertilizer to get it for their fall crop and then at the same time the US is gonna want it?” asked Graner. “The natural tendency of farmers here in North Dakota, Minnesota, South Dakota, is to buy their fertilizer as they head towards the end of the year and put it on a tax return for a write off. That’s an implication I don’t think anybody’s really thought about right now and it’s gonna become an issue later on.”
