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. Last Updated: 07/27/2016

French Sell Iran Wheat

PARIS -- French grain exporters have taken advantage of ideal circumstances, including crude oil prices at 22-month highs, to fill drought-stricken Iran's near-term wheat needs while at the same time ensuring U.S. traders do not muscle in on their huge market, grain industry sources said Wednesday.

Iran has bought between 900,000 and 1 million metric tons of French wheat over the last six weeks, including at least 120,000 tons purchased Tuesday for $103 a ton plus shipping costs.