Hormuz Fertilizer Disruption Eases But Risks Remain

While fertilizer supply chain disruptions via the Strait of Hormuz have eased, renewed instability in Q3 poses significant risks for global nitrogen-intensive crops. Concurrently, phosphate price pressures continue to threaten the long-term productivity of Brazilian soybean cultivation.

Key Takeaways

• 1.Nitrogen fertilizers represent a near-term risk if Strait of Hormuz disruptions re-emerge in Q3 during critical procurement cycles for corn, rice, sugarcane, and wheat.
• 2.Phosphate fertilizer affordability remains a stressor for Brazilian soybean farmers, potentially leading to long-term soil under-application and yield risks.

Table of Contents

• Hormuz Fertilizer Disruption Eases, But Risks Remain
• Disclosure Appendix

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