Fertilizer prices fall on hope for US-Iran deal

Fertilizer prices are falling due to hopes for a US-Iran deal, with urea down 50% from its April peak, though phosphate prices remain high. Food shortages are anticipated after a disrupted planting season, as 50% of food output relies on nitrogen-based fertilizers, with a food economist warning it may take six months for supply chains to normalize and higher costs to affect food prices in a year.