Maize trading range for the day is 1406-1426

Maize prices dropped as pressure seen due to weakness in spot demand and ample supply. In India, maize has been sown in around 11.05 lakh hectares as on now which is higher than 10.26 lakh hectare covered during corresponding period last year. In Maharashtra, it has been sown in around 1.91 lakh hectares which are higher than 1.79 lakh hectare covered during corresponding period last year. 

Overall maize cash markets traded down during the month of November’ 16 compared to last month and corresponding period of last year. Due to cash crunch in the market, farmers are bringing less stock in the market as traders are not able to pay the farmers. Traders are hoping for the situation to be under control soon but currently, market trades are badly affected. As per USDA, U.S corn exports reached 13.09 MMT in the 2016-17 marketing year. 

 

At Nizamabad market in Andhra Pradesh, arrivals were reported at 4000 Qtl, up by 1000 Qtl as against previous day. In Nizamabad maize spot prices dropped -2.75 rupees to 1439.45 rupees per 100kgs.http://www.ripplesadvisory.com/services.phpClick here and watch out the best Share and Stock Market recommendations or One missed call on @9303093093.

You May Also Like

0 comments

Note: only a member of this blog may post a comment.