The problem is that the price of nitrogen exploded, as you can see from the chart below: The war in Iran and the closure of the Strait of Hormuz crippled nitrogen fertilizer supplies to the world, including the U.S. It spiked the price of nitrogen fertilizer and sent the price of corn to multi-year high prices.
Author: Matt Badiali
Published at: 2026-04-02 22:00:30
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