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Maritime freight rates reached new records in September after the Middle East conflict and Black Sea attacks disrupted routes. Crude flows through the Strait of Hormuz fell from about 15 to 9 million tonnes per day between January and September 2026, and urea exports were far below normal.
Higher freight costs and reduced fertiliser flows raise input and delivered costs for feed and grain buyers, and keep upward pressure on fertiliser prices.
lafranceagricole.frCaroline BournandNov 2, 2026Not enough comparable past events yet for a historical read.
After 49 past bullish logistics events, Urea moved a median -0.3% over 5 sessions (45% higher; middle half -1.3% to +2.2%), 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.
