Wall Street Week China’s Role in Iran War, Global Fertilizer Disruptions, Matcha’s Supply Problem
Mar 28, 2026
Nicholas Burns, career diplomat and Harvard professor who served as U.S. ambassador to China, NATO, and Greece, discusses shifting U.S.-China ties amid the Iran war. He examines China’s economic balancing with Iran and Gulf states. Also covered: global fertilizer disruptions squeezing farmers and the viral matcha craze stressing supply chains and quality.
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Strait Of Hormuz Is Critical For Fertilizer
- The Iran war disrupted not just oil but global fertilizer supply, especially urea passing through the Strait of Hormuz.
- Josh Linville highlights that about a third of urea trade and major exporters like Iran, Qatar, Saudi Arabia are behind that Strait.
Timing Means Fertilizer Arrivals May Be Too Late
- Even if shipments resume immediately, transit and inland distribution delays mean U.S. farmers may not receive urea until mid‑May, past planting windows.
- Linville outlined ~30 days sea transit plus weeks to move product inland, making many deliveries too late.
Don't Rely On Futures To Solve Immediate Shortages
- Farmers have limited hedges this close to planting; futures exist but don't fix physical shortages.
- Josh Linville cautions that paper markets (urea, UAN, phosphate futures) won't resolve immediate supply constraints.