HORMUZ FERTILIZER TRADE REBOUNDS Fertilizer shipments through the Strait of Hormuz are recovering after the U.S.-Iran interim peace deal, easing concerns over global supply disruptions. At least 16 fertilizer vessels have exited the strait, while weekly exports have rebounded to nearly 530,000 tons from near-zero levels during the conflict. The recovery has helped drive urea prices lower and reduced risks to global food inflation.(*Walter Bloomberg)