Maize settled up 1.34% at 1209 following gains in overseas markets and on thin supplies in local spot markets. In Gujarat total arrivals are at 6000 bags, unchanged as compared to previous day's arrival. In Karnataka arrivals were reported at 1000 Bags, lower by 1000 Bags as compared to previous day. In Delhi arrivals were reported at 500 quintals, lower by 100 quintals from previous trading day.

In Bihar arrivals were reported at 10000 Quintal, unchanged as compared to previous day's arrival. In Punjab sources reported arrivals at 3000 Quintal, higher by 750 Quintal from previous trading day. The good kharif supplies are ensuring that the prices don't spurt much and there are worries over export demand too. Not much of an activity is seen in local markets as the peak procurement season is still a few months away. Maize production in India this year is likely to touch record 25 million tonnes as adequate monsoon rains trigger higher acreage across growing states.

As per the second advance estimates of Indian government, the total maize production in 2013-14 is estimated at 23.29 million tonnes against 22.26 million tonnes due to higher sowing acreage coupled with favouable crop conditions in major producing states. According to the latest data, acreage under the coarse cereals stood at 60.94 lakh hectares compared with 61.92 lakh hectares as on the date last year. Technically market is under fresh buying as market has witnessed gain in open interest by 5.41% to settled at 36610 while prices up 16 rupee, now Maize is getting support at 1200 and below same could see a test of 1191 level, And resistance is now likely to be seen at 1216, a move above could see prices testing 1223.

Maize trading range for the day is 1191-1223.

Maize ended with gains following gains in overseas markets and on thin supplies in local spot markets.

Bihar arrivals were reported at 10000 Quintal, unchanged as compared to previous day's arrival.

Maize production in India this year is likely to touch record 25 million tonnes as adequate monsoon rains trigger higher acreage.

Technically market is under fresh buying as market has witnessed gain in open interest by 5.41% to settled at 36610.

BUY MAIZERABI AUG @ 1198 SL 1180 TGT 1215-1238.NCDEX