The U.S. Agriculture Department reported on Thursday [March 1st 2012] that Iran bought 120,000 tonnes of U.S. wheat — enough to fill two large cargo ships.

While not illegal, the deal caught traders by surprise as tensions mount between the West and Iran on concerns the Islamic Republic was intent on developing a nuclear weapon.

“It shocked me,” said Jerod Leman, a broker with Wellington Commodities Corp. “With everything going on over there with their nuclear problems, I am surprised we sold them anything.”

I am also still surprised about this.