Asian Markets: Slow Trading Ahead Of Harvests

Trading in Asian grains is likely to remain slow in the coming week, as buyers wait for prices to fall when rice, corn, wheat and soybean harvests take place around the world in the second half of the year.

In Vietnam, the federal government last week cut the minimum export price of rice to $600 PMT from $750 PMT earlier as the harvest picks up pace across the country.

Asian traders feel that the big unknown for rice prices later this year is whether India decides to resume exports of rice. The government has indicated that in case of a bumper harvest this fall; it may review a ban on white rice exports that has been in place since March.