News Summary

• The Strait of Hormuz — paralyzed by Iranian threats and potentially mines — carries a third of the world’s fertilizer.
• The American Farm Bureau Federation warned in a letter to Trump this week that “supply chain shocks are expected to drive already record-high input prices even higher” “Trump may be unable to end the war he started with Iran, even if he wanted to”: A war that is “won, but also “not finished yet”