The spike in crude oil and fertilizer prices could raise food prices within the coming months.

A surge in the price of fertilizer is sending shares of U.S. producers soaring, while forcing farmers into tough choices ahead of spring planting.

Justice Department probes fertilizer giants as farmers face rising costs. Corn growers demand action on price hikes and market concentration issues.

The war in Iran is not only blocking oil tankers through the Strait of Hormuz, it is also holding up much of the world's fertilizer supply, a development that is drawing close attention from farmers

A surge in fertilizer prices is sending shares of producers soaring. Investors bet that U.S. fertilizer makers can take market share while Mideast output is blocked, and that their access to cheaper natural gas than competitors will boost their profit margins.

Smith: Global tensions in and around Iran are already having an impact on fertilizer prices and availability as farmers prepare for spring planting. Faith Parum, an economist for the American Farm Bureau Federation, said the Middle East plays a major role in the worldwide supplies of fertilizer.

The U.S. ⁠on ⁠Friday expanded sanctions waivers on Venezuela, ⁠easing the way for investment in the South American country’s energy and ​petrochemical sectors and allowing for fertilizer exports as Washington seeks to help American farmers hit by rising prices stemming ‌from the Iran war.

Lane Akre, economist for Pro Farmer says: "It's not a matter of collusion, it's a matter of just not enough supply out in the world."