Maize settled up 0.17% at 1145 on the news that arrivals might be delayed this year. This year, maize sowing has been delayed due to the late arrival of the monsoon. But, it has picked up pace and it is expected that this season, the area under the crop will stand at about seven million hectares. In 2013-14, India recorded an all-time high kharif maize production of 17.51 million tonnes (mt), according to the third advanced estimate. Punjab Chief Minister urge the Centre to add maize to the crop procurement list of National Agricultural Cooperative Marketing Federation of India (NAFED), so that the cooperative can procure maize from the state. The U.S. Department of Agriculture bumped up its corn rating, as rains helped crop health in key production states. The USDA said in its weekly crop progress and conditions report that 73 percent of the corn crop was rated good to excellent as of Aug. 24. EU corn yields this season should be nearly 12 percent above those recorded in 2013, helped by good crop conditions, the EU's crop monitoring unit said. New-crop corn supplies will be a record 15.243 billion bushels, although the USDA trimmed 2013/14 ending stocks based on higher ethanol use and exports. At Naugachia market in Bihar sources reported arrivals at 5000 Quintal, unchanged as compared to previous day’s arrival. In Nizamabad market, maize prices dropped -2 rupee to end at 1342 rupees per 10 kg. Technically market is under fresh buying as market has witnessed gain in open interest by 0.24% to settled at 28960 while prices up 2 rupee, now Maize is getting support at 1138 and below same could see a test of 1130 level, And resistance is now likely to be seen at 1150, a move above could see prices testing 1154.

Trading Ideas:

Maize trading range for the day is 1139-1145.

Maize prices ended with flat node after prices traded in the range on the news that arrivals might be delayed this year.

This year, maize sowing has been delayed due to the late arrival of the monsoon.

But, it has picked up pace and it is expected that this season, the area under the crop will stand at about seven million hectares.

In Nizamabad market, maize prices dropped -2 rupee to end at 1342 rupees per 10 kg.