Saturday, August 23, 2008

Iran Purchases Wheat From U.S

Iran this summer resumed buying U.S. wheat after a 27-year hiatus, a sign of
the limited options for importers seeking large quantities of high-quality

So far, Iran has bought more than one-million tons of hard red winter wheat
directly from the U.S., which is "a very large amount," said Bill Nelson,
analyst for Wachovia Securities.

The purchases mean at least 3% to 4% of U.S. wheat exports for the 2008-09
marketing year, which began June 1, will go to a country the U.S. hasn't done
business with for more than a generation. U.S. sanctions against Iran don't
prohibit agricultural trade. - Wall Street Journal
Iran is too busy paying Hezbollah and Hamas to care about irrigation.

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