Crop and Fertilizer Markets Wipe Out Iran War Risk Premium

It’s a dramatic reversal from the early weeks of the war when the effective closure of the Strait of Hormuz choked off about a third of globally traded urea supplies, sending prices soaring and leaving farmers scrambling for alternatives. The decline may curb farm input costs and slow the pace of food inflation, but experts caution that energy prices remain elevated, while fertilizer is still sensitive to flare-ups in Middle East tensions. Read what’s happening here.