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Fertilizer shipments through the Strait of Hormuz have been virtually halted for two months, with zero volumes in September and October 2026. Sulfur prices have more than doubled to over $1,000/t and phosphate fertilizer prices have risen 25–30%.
Sulfur is a key input for phosphate production, so the Hormuz blockade is pushing phosphate costs sharply higher and could raise production costs and feed-grain input prices across global agriculture.
ukragroconsult.comOct 30, 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.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
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.
