Maize on NCDEX settled down by -0.78% at 1400 tracking weakness in spot demand and overseas prices. The U. S. government projected a 7 percent decline in corn production in the 2017/18 marketing year to 14.065 billion bushels, but ending stocks were expected to remain burdensome at more than 2 billion bushels. Delays in corn shipments from the United States have offered China a chance to showcase its grain to major Asian buyers like Japan and South Korea, raising the prospect of a new player in global grain markets. One deal is close and talks have begun on two more, sources said, with China benefiting from its close proximity to big Asian customers and bulging stockpiles left over from a now- abandoned farmer support scheme. While volumes so far are tiny, any challenge to established trade flows would unnerve a saturated global market and the world's main exporters, including the United States, which is under pressure to unload its own record stockpiles in the export market. Weekly data from the U. S. Commodity Futures Trading Commission showed non-commercial traders in the week to Feb. 14 built their biggest net long since July in corn. Mexico's attempts to diversify its supplies of corn could threaten a crucial market for U. S. farmers who are increasingly dependent on exports to unload record stockpiles that are depressing prices. In Nizamabad maize spot prices remains unchanged at0 Rupees to
1472 Rupees per 100kgs. Technically market is under fresh selling as market has witnessed gain in open interest by 6.57% to settled at 1460 while prices down -11 rupees, now Maize is getting support at 1396 and below same could see a test of 1392 level, And resistance is now likely to be seen at 1404, a move above could see prices testing 1408.

Trading Ideas:

# Maize trading range for the day is 1392-1408.

# Maize prices ended with losses tracking weakness in spot demand and overseas prices.

# NCDEX accredited warehouses maize stocks dropped by 733 tonnes to 4005 tonnes.

# Weekly data from the U. S. CFTC showed non-commercial traders in the week to Feb. 14 built their biggest net long since July in corn.

# In Nizamabad maize spot prices remains unchanged at0 Rupees to 1472 Rupees per 100kgs.