# Iran War: Asian feed millers take ‘wait‑and‑see’ approach as corn prices surge

> Asian feed millers are holding back on new corn purchases as the Iran war lifts freight and corn import prices. Asia's corn import price reached $271 per tonne on March 9, the highest in nearly three years, driven by roughly $10 per tonne higher freight after the effective closure of the Strait of Hormuz.

- Date: 2026-03-16 · published 2026-03-16T12:00:00.000Z
- Category: geopolitics · region Asia · magnitude medium
- Page: https://feedsoft.ai/events/20358-iran-war-asian-feed-millers-take-wait-and-see-approach-as-corn-prices-surge
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Higher bunker fuel and freight costs lift delivered corn prices into Asia and may slow near-term buying, which pressures US and Brazilian corn export demand until shipping costs ease.

## Read by commodity

- CORN: bullish ▲
- DDGS: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2026-03-08 | [Oil prices surge 20% as expanding US-Israeli war with Iran cuts supplies from Mideast - CNA](https://feedsoft.ai/events/6784-oil-prices-surge-20-as-expanding-us-israeli-war-with-iran-cuts-supplies-from.md) | +0.9% | +1.7% |
| CORN | 2026-03-25 | [Fertilizer prices surge amid Iran war, sparking food security warnings](https://feedsoft.ai/events/20097-fertilizer-prices-surge-amid-iran-war-sparking-food-security-warnings.md) | -1.0% | -1.2% |
| CORN | 2026-03-23 | [Corn Prices: Crop Hits Two-Week High as Iran War Threatens Fertilizer Supply - Bloomberg](https://feedsoft.ai/events/20182-corn-prices-crop-hits-two-week-high-as-iran-war-threatens-fertilizer-supply.md) | -0.3% | -1.8% |
| CORN | 2022-08-25 | [Fertiliser makers cut output as gas prices surge \| Reuters](https://feedsoft.ai/events/5147-fertiliser-makers-cut-output-as-gas-prices-surge-reuters.md) | +1.2% | +1.0% |
| CORN | 2026-09-25 | [What’s Behind the Latest Surge in Grain and Oilseed Prices?](https://feedsoft.ai/events/11998-what-s-behind-the-latest-surge-in-grain-and-oilseed-prices.md) | -0.3% | -6.1% |

## Sources

- agnavigator.com: https://www.agnavigator.com/Article/2026/03/16/iran-war-asian-feed-millers-take-waitandsee-approach-as-corn-prices-surge/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.