Global conflict is colliding with farm economics in this episode of Wheat’s on Your Mind. Host Aaron Harries is joined by Mike O’Dea, risk management consultant at StoneX, and Josh Linville, vice president of fertilizer at StoneX, to unpack the fast-moving fallout from the Iran conflict and the closure of the Strait of Hormuz. Together, they explain why wheat prices were already moving higher before the latest geopolitical shock, how crude oil is adding fresh volatility, and why current rallies may create marketing opportunities for producers.
The discussion also explores the fertilizer side of the equation in detail. Linville explains how much of the world’s urea and phosphate trade depends on the Middle East, why the spring import window matters so much for U.S. growers, and how delayed buying patterns could worsen supply problems. O’Dea connects those fertilizer risks back to wheat production, protein, corn acres, and broader crop competition, offering listeners a grounded look at how global events can quickly reshape decisions at the farm gate.
