Renewed fighting in the Middle East is creating new uncertainty for global fertilizer markets. StoneX Vice President of Fertilizer Josh Linville said concerns over shipping through the Strait of Hormuz are already affecting prices. “At the very least, this creates uncertainty not only for fertilizer markets but also for transportation. Ship owners have watched vessels come under attack, and that’s going to make them think twice about moving through that region until there’s a lasting peace agreement.” Linville said a prolonged disruption would have major consequences. “If the Strait of Hormuz remains effectively closed and vessels refuse to move through the area, we could see a complete stoppage of traffic. The uncertainty has already pushed fertilizer prices higher.” Anhydrous ammonia, UAN and urea prices have all strengthened as buyers moved quickly to secure supplies.
