Iran talks in Geneva moving at "blinding speed"

(CBS News) Nuclear talks between Iran, the United States and five other world powers continue in Geneva, and there are signs of progress.

CBS News' Elizabeth Palmer, reporting from Geneva, noted the Iranians kicked off Tuesday with a plan to modify their nuclear program to get sanctions lifted. And, for the first time, it is being taken seriously. By Tuesday afternoon, talks had entered technical discussions, which means they were "down to the nitty-gritty," Palmer said.

By the measure of talks in the past, Palmer said they were moving at "blinding speed." She added as further evidence that there's a substantial discussion taking place that the U.S. lead negotiator, Wendy Sherman, met privately for an hour on Tuesday with the deputy Iranian negotiator.

The reason Sherman met with the deputy is that the lead negotiator for Iran, who is also the foreign minister, Mohammad Javad Zarif, has had terrible back pain. Palmer said he had to fly to Geneva flat on his back on his private jet because he couldn't get up, and he's been out of commission for a lot of these talks.

Some kind of Iran agreement is expected Wednesday evening. Palmer said it's probably going to be a framework for the next round of discussions, which is in itself a positive sign. Palmer added, "We're used to hearing of the Iranians as the ones who want these sanctions lifted, but we shouldn't forget that Americans, particularly the business community, is very keen. For example, Iran is going to want to renew its entire civilian aircraft fleet - hundreds of orders. You can imagine how Boeing would like to get that business come its way."

For more with Palmer, watch her full report above.