Noel Fryer

“We've got no end in sight to the Black Sea problem. The issue with fertilizer since the start of the Iran conflict is still there and if anything getting worse. U.S. corn yields look concerning after a wet spring and less fertilizer use, and could push prices up.”

Noel Fryer · said 2026-08-20 · reported 2026-08-21

Noel Fryer highlighted unresolved Black Sea conflicts, fertilizer shortages, and lower U.S. corn yields.

“A lot of things will come together to seriously affect crops next year,”

Noel Fryer · said 2026-08-20 · reported 2026-08-21

Noel Fryer warned that multiple emerging issues will severely impact agricultural crops in the coming year.

“And we've got uncertainty from a massive El Niño event about to hit,”

Noel Fryer · said 2026-08-20 · reported 2026-08-21

Noel Fryer noted the potential volatility stemming from an approaching El Niño weather event.

“We've had crops decimated by weather in Europe and the U.S. A searingly hot summer in Europe has eroded grazing potential, with no hay and grass for cattle. A possible result of that is significant herd liquidation,”

Noel Fryer · said 2026-08-20 · reported 2026-08-21

Noel Fryer discussed the damage extreme weather has caused to crops and cattle grazing across Europe and the U.S.

“It's just a huge mix of different issues and we don't know how they're going to end. It's a perfect storm.”

Noel Fryer · said 2026-08-20 · reported 2026-08-21

Noel Fryer summarized the overlapping agricultural and supply chain challenges as a perfect storm.