Tidbits, Q&A: Machinery Market, Fertilizer & Crude Oil, Cattle on Feed 4/18/26
- Wright team
- Apr 18
- 5 min read
Tidbits
Iran War: President Trump said Iran has agreed to suspend its nuclear program indefinitely. Bloomberg reported Iran will not receive any frozen funds from the U.S. Details include:
Trump says that a deal to end the war between the US/Israel and Iran is now "mostly complete"
Talks over a lasting agreement will "probably" be held this weekend and "most main points are finalized"
Trump denied that the moratorium on Iran’s nuclear program would expire after 20 years
Fertilizer and Crude Oil: Fertilizer prices fell sharply yesterday after Iran's foreign minister said it had opened the Strait of Hormuz, which handles about a third of the world's crop nutrient supplies. The strait has been closed since early March. Iran said yesterday the strait was open to all commercial traffic as part of a ceasefire in Lebanon, although relatively minimal passes have occurred so far. About 35 loaded vessels were headed toward the Strait from the Persian Gulf last evening. West Texas Intermediate Crude May futures contract was down $10.84 to $83.85, the lowest settlement since 10 March.
CF Industries and Nutrien shares both settled at their lowest price since early March, down 9.6% and down 5.2%, respectively, while Mosaic (MOS) finished down just 0.6%.
Prices for urea, the most commonly used form of nitrogen, fell ~18% Friday to $640 per ton in New Orleans, down from a peak earlier this week of $780 per ton, according to Bloomberg.
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