Tidbits, Logistics, Energy & Fertilizer, 2026 Crop Insurance, PMI 3/4/26
- Wright team
- Mar 4
- 4 min read
Tidbits
Logistics, Energy & Fertilizer: At 2:37 PM ET yesterday, President Trump ordered the U.S. Development Finance Corporation to provide political risk insurance and guarantees for all maritime trade traveling through the Persian Gulf.
The U.S. is preparing military measures to safeguard ships transiting the Strait of Hormuz. Energy contracts trimmed gains when that news came out early afternoon. In addition to 20% of the world’s crude oil, more than 30% of the world’s fertilizer moves through that strait.
The price of urea, a dry nitrogen crop fertilizer generally made from natural gas, jumped as much as 13% to $550 per ton in Egypt, an urea producer, and expect further increases.
The price jump was also reflected in imports to North America, rising about $77 to $606 at the port area around New Orleans.
Let us recall that Iran has closed the Strait of Hormuz. According to Iranian authorities, any tanker that attempts to cross the strait will be fired upon. The use of mines in the strait is also not ruled out.
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