Maize on NCDEX settled down by -1.3% at 1368 on the expectation of new crop arrival. In Telangana, it has been sown in 5.85 lakh hectare which is higher than 4.22 lakh hectare covered during corresponding period last year. Maize Crop is at cob formation to harvesting stage. It is reported that traces of stem borer, blight and helicoverpa attacks in Nizamabad, Warangal and Karimnagar districts. As per IBIS data, India exported 1153 MT maize during the week ended 8th October’16 against 1080 MT previous week ending 2nd Octobern’16. Maize has been exported at an average FoB of $ 257.85 / MT. Indian maize is exported mainly to Nepal and UAE through Raxul LCS followed by Mundra Sea.

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Technically market is under fresh selling as market has witnessed gain in open interest by 0.34% to settled at 8910 while prices down -18 rupee, now Maize is getting support at 1362 and below same could see a test of 1356 level, And resistance is now likely to be seen at 1378, a move above could see prices testing 1388.