Maize settled down -2.65% at 1104 tracking weakness in spot demand onset of India's southwest monsoon which will aid kharif sowing. Prices also seen under pressure after United States corn planting data came better than expected bolstering hopes of record crop from the world's biggest maize producer. India maize sowing during the kharif season commences by the end of June. 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. United States corn production will total 13.935 billion bushels in 2014-15, up from 13.925 billion bushels in 2013-14 and compared to analysts forecast of 13.73 billion bushels, the USDA said in its World's Agriculture Supply and Demand Estimates (WASDE) report.   Corn stockpiles in United States will swell to 1.726 billion bushels in 2014-15 compared to 1.14 billion bushes a year ago. In Punjab total arrivals are at 1800 Quintal, unchanged as compared to previous day’s arrival. In Delhi sources reported arrivals at 700 quintals, up by 200 quintals as compared to previous day. Technically market is under long liquidation as market has witnessed remain unchanged in open interest by 0% to settled at 37930 while prices down -30 rupee, now Maize is getting support at 1090 and below same could see a test of 1075 level, And resistance is now likely to be seen at 1129, a move above could see prices testing 1153.

Trading Ideas:

Maize trading range for the day is 1075-1153.

Maize ended with losses tracking weakness in spot demand onset of India's southwest monsoon which will aid kharif sowing.

Prices also seen under pressure after United States corn planting data came better than expected bolstering hopes of record crop.

India maize sowing during the kharif season commences by the end of June.

NCDEX accredited warehouses maize stocks gained by 380 tonnes to 19691 tonnes.