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Itafos CEO David Delaney says global phosphate production is constrained by sulfur, with operating rates at 50-60%. Strait of Hormuz sulfur cargoes are running at about 25% of normal, and Russia and Kazakhstan are still not exporting.
He sees sulfur prices trending down from a record high of about $1,200 per ton toward $850, but expects elevated fertilizer prices to persist into 2027.
Tight sulfur and phosphate supply keeps DAP costs high, which can reduce farmer application rates and potentially lower crop output in 2027. That supports fertilizer prices and adds to input-cost pressure for feed grain producers.
brownfieldagnews.comJared WhiteOct 7, 2026After 114 past bullish geopolitics events, DAP moved a median +0.0% over 5 sessions (50% higher; middle half -0.3% to +1.2%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
