Maize on NCDEX settled down -0.41% at 1454 on profit booking tracking weakness in spot demand and overseas prices. U.S. Energy Information Administration showed inventories of corn-based ethanol fuel reached a record high last week as output fell. The USDA data showed weekly U.S. corn export sales of 716,000 tonnes for shipment during the current marketing season, below estimates for 900,000 to 1.2 million tonnes. Argentine corn should benefit this season from high yields brought by good weather, the Buenos Aires Grains Exchange said, adding that it may increase its harvest estimate above the current 54.8 million tonnes.

Trading Ideas: 

 * Maize trading range for the day is 1443-1469. 

* Maize dropped on profit booking tracking weakness in spot demand and overseas prices. 

* U.S. corn export sales topped 1.1 million tonnes during the period. 

* NCDEX accredited warehouses maize stocks dropped by 31 tonnes to 1578 tonnes. 

* In Nizamabad maize spot prices gained 6.65 Rupees to 1476.65 Rupees per 100kgs.

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