Yeah, but timing is an issue. We get a big chunk of our fertilizer through the Straits of Hormuz, and crops need it sooner than later. I expect the US will get hit with higher food prices, but people in resource limited countries may see some food problems.

That's true, but we're not in a resource limited country. It will continue to make things more costly but there shouldn't be any need for panic hoarding. Having lived poor I can vouch that you can get by on beans and rice for a pretty long time.