Argentina wheat threatened by high urea fertilizer prices due to Iran war

After 361 past bullish geopolitics events, Wheat (SRW) moved a median +0.7% over 5 sessions (58% higher; middle half -1.4% to +3.7%), and +1.3% over 20.

• Mar 5, 2026How the Iran war could create a ‘fertiliser shock’ – an often ignored global risk to food prices and farming+1.7%
• Mar 21, 2022Insight: Wheat prices soar on Ukraine fears, but U.S. growers can't cash in | Reuters+15.8%
• Feb 23, 2022Winter Wheat Prices Touch 9-Year High on Russia, Ukraine Fears - Bloomberg+6.4%
• Aug 28, 2026Corn and wheat prices jump to highest prices in more than three years+3.3%
• Apr 6, 2022A fertilizer shortage, worsened by war in Ukraine, is driving up global food prices and scarcity-2.3%

After 205 past bullish geopolitics events, Urea moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.0%), and -0.4% over 20.

• Mar 5, 2026Farmers see fertiliser price surge as Iran war blocks exports, threatening losses | Reuters+3.0%
• Apr 15, 2026India urea prices double to $1,000 in tender on Iran war shock | Reuters-3.8%
• Sep 1, 2026Why higher fertilizer prices are here to stay+1.7%
• Mar 22, 2022Fertilizer prices are at record highs. Here's what that means+0.4%
• Apr 9, 2026Iran war’s impact on fertilizer and fuel | Reuters+2.4%