Maize settled up by 0.91% at 1447 amid slow arrivals of the crop. New crop arrivals with moisture level of around 14-16% are weighing on market sentiments. In Nizamabad, no major trading activity reported during the week as maize market was closed most of the time due to festive week. However, more dip from current level is unlikely despite arrival pressure from new crop. Tamil Nadu, which is not a maize producer state during Kharif season, the prices ruled higher at Rs 14,730 per tonne and the grains size are small, especially in drought hit areas. At Naugachia market in Bihar, Maize(Corn) Loose is trading strong at Rs. 1475 per quintal, higher by 1.72 per cent as compared to previous day. Arrivals were reported at 833 Quintal, steady as against previous day's arrival. At Nizamabad market in Andhra Pradesh sources reported arrivals at 2000 Qtl, down by 2000 Qtl as compared to previous day. U.S. farmers finished harvesting 75 percent of the corn, up from 59 percent a week ago and higher than the five-year average of 68 percent, the USDA said. Erratic monsoon this year would hit corn production despite higher sowing reported across growing regions in India. In Nizamabad maize prices gained 20.95 rupee to end at 1430 rupees per 100 kg.Technically market is under short covering as market has witnessed drop in open interest by -8.65% to settled at 7390 while prices up 13 rupee, now Maize is getting support at 1431 and below same could see a test of 1415 level, And resistance is now likely to be seen at 1456, a move above could see prices testing 1465.

Trading Ideas:

Maize trading range for the day is 1415-1465.

Maize prices ended with small gains amid slow arrivals of the crop.

New crop arrivals with moisture level of around 14-16% are weighing on market sentiments.

In Nizamabad, no major trading activity reported during the week as maize market was closed most of the time due to festive week.

In Nizamabad maize prices gained 20.95 rupee to end at 1430 rupees per 100 kg.