"Fuel and fertilizer prices reacted quickly Monday morning following U.S. and Israel military strikes into Iran over the weekend. As retaliatory strikes intensified across the Middle East, Iran said it would target shipping lanes through the Strait of Hormuz, a narrow passage that borders Iran’s southern coast.
Considered a vital choke point for crude oil exports and fertilizer exports, Josh Linville, vice president of fertilizer at StoneX, said the conflict 'couldn’t happen at a worse time,' as U.S. farmers prepare to enter spring planting.
'The U.S.- Iran conflict matters a lot to global fertilizer markets,' Linville said, noting fertilizer prices were already near historic highs."
Bob
Considered a vital choke point for crude oil exports and fertilizer exports, Josh Linville, vice president of fertilizer at StoneX, said the conflict 'couldn’t happen at a worse time,' as U.S. farmers prepare to enter spring planting.
'The U.S.- Iran conflict matters a lot to global fertilizer markets,' Linville said, noting fertilizer prices were already near historic highs."
Bob