Asia Grain Outlook: Prices to Rise as Severe Weather Hits US, Argentina

SINGAPORE–Asian grain prices are expected to rise in coming days, reflecting fresh buying interest in the cash market, possible crop damage from megastorm Sandy in the U.S. and concern about heavy rain that has delayed planting in Argentina.

Buyers in Japan, China and South Korea this week have booked more than 500,000 metric tons of corn and soybeans for shipment early next year, trade participants said.

“Every time prices show a modest decline, buyers start to make purchases” because …

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