Maize settled up 1.13% at 1161 on upbeat buying interest from local millers to meet export demand and falling supplies. The maize prices were also supported on lower arrivals in key local market and fallings stockpiles in the exchange. Nizamabad market in Andhra Pradesh, sources reported corn arrivals at 3000 bags, down by 5000 bags as against previous day. Davanagere market, Karnataka corn arrivals were reported at 1000 bags, down by 1000 bags from previous day. India total maize production in 2013-14 is estimated at 23.29 million tons against 22.26 million tons due to higher sowing acreage coupled with favourable crop conditions in major producing states, the second advance estimates of Indian government showed. US corn exports inspection rose to 1.16 million tons, up 16% from the prior week, the US Department of Agriculture said. International corn prices after the USDA data showed higher sowing of maize by US farmers spurting hope of record crop from the world's biggest corn exporter. Planting of corn in US jumped 88% for the week ended May 27 compared to 73% sowing a week ago and 84% for same period a year ago, the USDA data showed. Technically market is under fresh buying as market has witnessed gain in open interest by 2.24% to settled at 36010 while prices up 13 rupee, now Maize is getting support at 1150 and below same could see a test of 1140 level, And resistance is now likely to be seen at 1169, a move above could see prices testing 1178.

Trading Ideas:

Maize trading range for the day is 1140-1178.

Maize prices gained on upbeat buying interest from local millers to meet export demand and falling supplies.

The maize prices were also supported on lower arrivals in key local market and fallings stockpiles in the exchange.

Nizamabad market in Andhra Pradesh, sources reported corn arrivals at 3000 bags down by 5000 bags as against previous day.

NCDEX accredited warehouses maize stocks dropped by 112 tonnes to 12797 tonnes.