Iran Buys 70,000 Tons of Brazilian Corn

Iran’s State Livestock Affairs Logistics, the state feed grain buyer, has bought 70,000 metric tons of Brazilian corn in a tender that closed earlier this week, according to a Reuters report, citing European traders.

The tender, for up to 150,000 tons, sought shipment between May to June, Reuters said in a report yesterday.

A boost in the Iranian state grains agency’s purchases on the international markets came as a result of private buyers having problems buying the commodity amid western sanctions, according to the report.

The U.S. and European Union have trade and financial sanctions against Iran, aimed at pressuring the Persian Gulf country to curb its nuclear program.