The egg on your plate this morning was made from corn.

Not literally. But the hen that laid it ate roughly two pounds of feed for every dozen eggs she produced. That feed was primarily corn and soybean meal. The corn was grown with nitrogen fertiliser at $610 per ton on the CBOT March settlement. The soybean meal came from beans planted on acres that used to grow corn before the fertiliser price made the switch inevitable. The plastic tray the eggs sit in was moulded from polyethylene derived from Gulf naphtha. The refrigerated truck that delivered them to the store runs on diesel refined from crude that once transited Hormuz.

The egg does not know it is a nitrogen derivative. The receipt does.

American egg prices had been falling. Wholesale dropped to roughly 70 cents per dozen by early March 2026, down more than 90 percent from the $8.53 peak during the 2025 avian flu crisis. Retail averaged about $2.50 per dozen in February. The flock rebuilt. Nine million more hens than a year ago. Egg production was recovering. The USDA projected egg prices to decrease 27.4 percent in 2026 from 2025 levels.

That projection was published before the strait closed.

The protein cascade runs through every animal product in the supermarket. Corn becomes feed. Feed becomes poultry, beef, pork, dairy. Each conversion step multiplies the input cost. A $610 urea price raises corn production costs. Higher corn costs raise feed costs. Higher feed costs raise the price of every protein that eats corn: eggs, chicken, beef, pork, milk, cheese, yogurt. The cattle herd is at 86.2 million head, a 75-year low. Fewer animals eating more expensive feed produces less protein at higher prices.

The Renewable Fuel Standard consumes 43 percent of the corn crop as ethanol feedstock. That mandate is written into law. It does not flex when fertiliser prices surge. The RFS takes its 15 billion gallons first. Whatever corn remains feeds the animals. When the total corn crop shrinks because farmers switch to soybeans, the RFS share of the smaller harvest becomes a larger fraction of available supply. The animals get what is left.

Now add the packaging layer. Polyethylene for cling film and trays. Polypropylene for yogurt cups. PET for milk bottles. Every packaging material is petrochemical. The IRGC published satellite targeting images of the Gulf facilities that produce the naphtha that becomes the plastic that wraps the food. US PE spot prices surged 10 cents per pound. Indian PE jumped 20,000 rupees per tonne.

Now add the freight layer. War risk premiums up 300 percent. VLCC charter rates quadrupled to $800,000 per day. Container surcharges of $500 to $1,500 per TEU added directly to the cost of imported and exported goods. Refrigerated truck diesel is priced off crude that sits above $100.

Now add the insurance layer. The P&I clubs voided coverage. Solvency II requires 30 to 60 days of zero incidents before reinstatement. Even after a ceasefire, the logistics system lags the financial relief rally by months. Sticky inflation hides in the gap between the ceasefire headline and the insurance normalisation.

Every layer compounds on the one before it. Nitrogen raises the corn. Feed raises the protein. Packaging raises the shelf. Freight raises the delivery. Insurance raises the duration. The grocery bill absorbs all five. The receipt at the checkout counter is the terminal node where every crisis in the series converges.

A strait 11,000 kilometres away just repriced your breakfast.

shanakaanslemperera.sub…