Pounded By Drought, Iran Buys 1.2 Million Tons Of US Wheat In First Purchase Since 1982 - AFP

[hatrack]

Wracked by drought, Iran has turned to the United States for wheat for the first time in 27 years, marking a setback for Tehran's search for agricultural self-sufficiency. According to a recent US Department of Agriculture report, Iran has bought about 1.18 million tonnes of US hard wheat since the beginning of the 2008-2009 crop season in June.

The number, which has been growing steadily all summer, already represents nearly 5.0 percent of US annual exports forecast by the USDA. The last time Iran imported US wheat was in 1981-1982.

"Number one -- they need to import a large amount of wheat," said Bill Nelson, a grains market analyst at Wachovia Securities. "If they need wheat right now, the US is the place to go." According to Nelson, Iran's wheat production has been hammered by several months of drought, with crop forecasts of roughly 10 million tonnes this year, about five million tonnes short of the country's needs.

US wheat was the first to arrive on the markets, ahead of wheat from the European Union, Russia and Ukraine, and well before that from Australia, where the harvest is several months away.

EDIT

http://www.terradaily.com/reports/Drought_stricken_Iran_buys_US_wheat_for_first_time_in_27_years_999.html

[kestrel91316]

1. Wow, this is really good news. Now, when we nuke 'em, we can

also withhold future grain shipments. That'll show 'em.