Institution: Ceasefire Struggles to Resolve Fertilizer Bottleneck, Limited Support for Grain Market

```htmlGolden Ten Data reported on April 9 that Jake Hanley from Teucrium Trading stated that grain futures received only limited support from the ceasefire with Iran, as the conflict has already significantly impacted fertilizer supplies. In his report, he noted: “Even if the Strait of Hormuz reopens tomorrow, the corn market still faces a problem that won’t be resolved until at least 2027.” He pointed out that disruptions to shipping through the strait and damage to natural gas facilities in the region will not recover in the short term, and the cost for farmers to obtain fertilizer could rise sharply. Farmers unable to afford the high prices may be forced to ration their limited fertilizer throughout the entire growing season.```