Maize settled flat despite of firmness in spot demand and overseas prices. In India, maize has been sown in around 14.72 lakh hectares which is higher than 13.46 lakh hectare covered during corresponding period last year. In Maharashtra, it has been sown in around 2.41 lakh hectares which are higher than 2.10 lakh hectare covered during corresponding period last year. In Bihar also, it has been sown in around 4.47 lakh hectares which is higher than 4.36 lakh hectare covered during corresponding period last year. The area under the rabi maize crop across the country was at 1.01 mln ha up 6.4% from a year ago, according to data released by the farm ministry. A year ago, farmers had sown maize across 953,600 ha. The acreage this year is also sharply higher than the normal acreage of 693,900 ha for this period, based on the average of the last five years, the data showed. In Bihar, India's largest producer of rabi maize, the acreage was at 222,000 ha, down 3.5% from a year ago, according to the data. At Khanna market in Punjab, total arrivals are at 3750 Quintal, up by 750 Quintal from previous trading day. At Naugachia market in Bihar, estimated market supply was at 500 Quintal, steady as against previous day’s arrival. At Nizamabad market in Andhra Pradesh, total arrivals are at 2000 Qtl, steady as against previous day’s arrival. In Nizamabad maize spot prices gained 1.65 rupees to 1480 rupees per 100kgs.Technically now Maize is getting support at 1441 and below same could see a test of 1438 level, And resistance is now likely to be seen at 1448, a move above could see prices testing 1452.

Trading Ideas:

Maize trading range for the day is 1438-1452.

Maize prices settled flat despite of firmness in spot demand and overseas prices.

In India, maize has been sown in around 14.72 lakh hectares which is higher than 13.46 lakh hectare

At Khanna market in Punjab, total arrivals are at 3750 Quintal, up by 750 Quintal from previous trading day.

In Nizamabad maize spot prices gained 1.65 rupees to 1480 rupees per 100kgs.