US Department of Agriculture: Due to the conflict with Iran, Australia's canola seed production is expected to decrease by 19%.

The US Department of Agriculture's Foreign Agricultural Service said that due to the conflict in Iran disrupting diesel and fertilizer supplies, it is expected that Australia's canola production for the 2026-27 season will decrease to 6.2 million tons, a 19% decrease from the previous quarter. Due to the conflict in Iran causing a significant increase in nitrogen fertilizer prices, which in turn affects crop yields, the agency forecasts that Australia's exports of major oilseeds will decrease by 16% to 4.7 million tons.