NCDEX MAIZE UPDATE

Maize settled down by -0.44% at 1355 tracking weakness in spot demand and overseas prices amid expectations of rapid progress of the U.S. harvest. New crop arrivals with high moisture level of around 18-25% have entered the market. Prices are ruling as per moisture level ratio and is weighing on market sentiments but this down side could be limited as poultry feed makers have reduced its ratio in poultry feed. 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.
Trading Ideas:
Maize trading range for the day is 1338-1382.
Maize prices dropped tracking weakness in spot demand and overseas prices amid expectations of rapid progress of the U.S. harvest.
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.
In Nizamabad maize prices dropped -55 rupee to end at 1395 rupees per 100 kg.

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