REUTERS, Chicago

US fertilizer buyers are redirecting shipments out of the country, as higher overseas prices give them an incentive to divert critical supplies, a fertilizer ​analyst said.

Barges of imported urea nitrogen fertilizer were purchased this week at the Port ‌of New Orleans for export overseas, said Josh Linville, vice president for fertilizer at financial services firm StoneX.

“We saw a lot of physical barges that were being traded. They were linked to exports,” Linville said, adding, “It is feasible ​to buy barges on the Mississippi River, reload them on a vessel, and ship ​them out.”

Since the US and Israel launched a war with Iran, nitrogen fertilizer prices have soared, with more than 30 percent of global exports caught in Iran’s near ​closure of the Strait of Hormuz. The US and Israel said on Friday the waterway had ​fully reopened after Israel’s ceasefire with Lebanon, sending oil prices down.

But while global fertilizer prices have soared, US prices at New Orleans have remained about $170 per short ton cheaper, providing buyers an opportunity to profit ​from the price difference.