Iran Purchases U.S. Wheat

USDA said recently that Iran wants to purchase four to five million tons of wheat this year, and the U.S. is the place to buy wheat.  Iran usually purchases its wheat from Australia, however they are experiencing two poor years of wheat harvests.

"Iran hasn’t bought wheat from us since 1981, and of course we remember the political problems at that time with the hostages," said Farm Progress market analyst Arlan Suderman.  "But they are so desperate after a drought cut their crop down by a third this year, so they’ve purchased 43 million bushels of U.S. hard red winter wheat over the last three or four weeks."