Tuesday, 27 October 2015

NCDEX MAIZE UPDATE

Maize settled up by 0.7% at 1434 tracking firmness in spot demand and overseas prices on the back of slow farmer sales in the U.S. Midwest.
 New crop arrivals with high moisture level of around 18-25% have entered the market. In A.P, new crop arrivals with high moisture of around 14-28% have entered the market. 
Stock of maize in the Government’s warehouse is almost empty. 
The stock position was around 40,000 MT during the corresponding period of last year.
 Even as the retail prices of pulses continue to pinch consumers, maize prices ruled high in the range of Rs. 13,000 to Rs. 14,730 per tonne last week amid slow arrivals of the crop, according to a report by US Grains Council. Harvest in India continues and the reports are not very encouraging.
Trading Ideas:
Maize trading range for the day is 1410-1450.
Maize prices ended with gains tracking firmness in spot demand and overseas prices on the back of slow farmer sales in the U.S. Midwest.
Stock of maize in the Government’s warehouse is almost empty.
NCDEX accredited warehouses maize stocks flat and remains unchanged by 0 tonnes to 1347 tonnes.
In Nizamabad maize prices gained 22.55 rupee to end at 1409.05 rupees per 100 kg.




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