Right now, there are two wars that are throwing our ag sector into chaos, and that, of course, is the war in Iran and the trade war. Let's start with Iran. The closing of the Strait of Hormuz has ongoing hostilities across the Middle East have sent input prices through the roof. Urea is up 50%. Ammonia and diamonium phosphate are up 20%. Each diesel, of course, has soared 35 to 50%. (02:18–02:25)
CLAIM
Asserts that the closing of the Strait of Hormuz has increased input prices.
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