SINGAPORE (Dow Jones) -- Asian grain prices are likely to be higher this week because of lingering drought and tight supply in the U.S.
But analysts also warn that gains will be difficult to sustain if there are large harvests in South America.
The U.S. is the world's largest exporter of agricultural commodities and was hit by drought in mid-2012 which continues to affect plantings in several states.
Most active wheat futures for March delivery on the Chicago Board of Trade Monday traded as much as 13.75 cents higher at $7.6850/bushel. March corn futures traded 12.75 cents higher at $7.2150/bushel ...