FARGO, NORTH DAKOTA (RFD News) — A new analysis from North Dakota State University is modeling how fertilizer prices could respond to potential disruptions in the Strait of Hormuz.
The study outlines three possible scenarios, including a quick reopening of shipping routes, continued contested transit, and an extended disruption through the fall.
Under the central scenario, urea prices could peak near $784 per ton by mid-2026, while DAP could rise above $860 later in the year.
Even under the most optimistic scenario, the analysis projects prices would remain above pre-crisis levels through at least 2027.
The report also notes differences between crop prices and input costs that could impact overall affordability for farmers.
Record output, larger stocks, and softer exports point to a well-supplied domestic ethanol market as harvest progresses.
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