Maize on NCDEX settled down by -0.41% at 1475 tracking weakness in spot demand and over seas prices dragged down by ample world stocks. The U. S. Department of Agriculture said private exporters in the last day had sold 125,000 tonnes of corn to unknown destinations. U. S. corn exports to Mexico could be at risk if they repeal NAFTA. Brazilian and Argentinean farmers will benefit. Private analytical firm Informa Economics raised its projection of U. S. 2017 corn plantings to 90.489 million acres from 90.151 million last month. At Khanna market in Punjab, arrivals were reported at 3750 Quintal, up by 1500 Quintal as against previous day. At Nizamabad market in Andhra Pradesh, sources reported arrivals at 3000 Qtl, up by 1000 Qtl as compared to previous day. The International Grains Council raised its forecast for the global grains crop in 201617 from an already record level, partly driven by improved outlook for China's corn crop. The U. S. Department of Agriculture's weekly export sales report put corn sales at nearly 1.4 million tonnes, topping a range of trade expectations. The USDA also said that private exporters in the last day sold 126,312 tonnes of U. S. corn to unknown destinations. 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. In Nizamabad maize spot prices dropped -1.25 Rupees to 1498.75 Rupees per 100kgs. Technically now Maize is getting support at 1470 and below same could see a test of 1466 level, And resistance is now likely to be seen at 1478, a move above could see prices testing 1482.

Trading Ideas

# Maize trading range for the day is 1466-1482.

# Maize prices dropped tracking weakness in spot demand and over seas prices dragged down by ample world stocks.

# USDA said private exporters in the last day had sold 125,000 tonnes of corn to unknown destinations.

# NCDEX accredited warehouses maize stocks dropped by 10 tonnes to 9593 tonnes.

# In Nizamabad maize spot prices dropped -1.25 Rupees to 1498.75 Rupees per 100kgs.