Middle East conflicts may impact fertilizer prices.

The signs of the US and Israel's strikes against Iran and the escalating conflict in the Middle East may lead to a significant surge in fertilizer prices, as the war is expected to disrupt the supply chain passing through the Strait of Hormuz. It is estimated that about a quarter of the world's nitrogen-based fertilizers pass through this region. According to DTN's assessment, fertilizer prices have been trending upwards. The company stated that most of the fertilizer prices it tracks have been rising for two consecutive weeks, with prices far higher than the same period last year. Grain futures on the Chicago Mercantile Exchange saw mixed movements, with corn futures rising 0.1%, soybean futures falling 0.5%, and wheat futures falling 0.6%.