CF Industries Shares Hit Record High on Risks From Iran War

Fertilizer markets are tightening as the escalating conflict in the Middle East threatens global supplies of nitrogen-based crop nutrients, boosting companies such as CF Industries Holdings Inc., the world’s largest producer of ammonia.

CF Industries shares rose as much as 14%, the biggest intraday jump since 2020, to a record high on Thursday. The Illinois-based company controls nearly 40% of the North American nitrogen fertilizer market, while Nutrien Ltd. — which climbed 7.6% to the highest price in more than three years — controls another 22%.