** Shares in Yara YARA.OL rise over 5% after the Norwegian fertiliser maker reported a beat on Q1 adjusted EBITDA
** J.P. Morgan says the company posted an EBITDA of $896 million, beating consensus by 9%
** The broker notes strong delivery on free cash flow and a profit beat should support the shares today but adds that the Middle East will remain the "key driver" near-term
** JPM says the company expects a headwind of $150 million in Q2 and $120 million in Q3 due to higher natural gas prices
** Yara shares are up 35% year-to-date
(Reporting by Agnieszka Olenska)
((Agnieszka.Olenska@thomsonreuters.com;))