Fertilizer Supply Disruptions Drive Corn, Soybean Prices Higher
Diammonium phosphate, an important fertilizer used for major food crops, rose 28.4% during the first nine months of the year to $802.5 per metric ton.
The increase from $625 per ton at the end of 2025 has raised production costs for key agricultural commodities. Corn prices climbed 13.3%, while soybean prices increased 22.6% over the same period.
Restrictions on maritime traffic through the Strait of Hormuz have limited the movement of agricultural inputs. Under normal conditions, roughly one-third of worldwide fertilizer trade passes through the strategically important waterway.
Concerns over Middle East conflicts and potential disruptions to oil supplies at major shipping chokepoints, including the Strait of Hormuz, have also increased risk premiums in crude markets. This has raised diesel costs, adding further pressure on agricultural producers.
The fertilizer sector has been particularly affected by higher prices for natural gas and ammonia, both essential components in fertilizer production.
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