Maize settled up 0.52% at 1344 tracking firmness in overseas prices as prices were underpinned by strong exports and lower yields forecast by a crop tour in parts of the U.S. grain belt. The October requirement of 1.5 million tonne too will need to be met with the stocks from 2014-15 crop. The availability from Uttar Pradesh is poor and prices are now at over Rs 12,600 per tonne and delivered to Haryana ranging between Rs 14,000-14,400 per tonne. There was increase of almost Rs 1,500 per tonne in 15 days. Delivered price of maize to south India, particularly Coimbatore region from Bihar is now at Rs 15,500 per tonne or more. China's imports of corn and corn substitutes, including barley, sorghum and distillers' grain (DDGS) hit a record high in July as feed mills took advantage of cheap overseas prices to replace expensive domestic grain. Corn and soybean crops in Minnesota were both showing potential that topped historical averages and last year's harvest, according to results from the Pro Farmer Midwest Crop Tour released. Average corn yields were pegged at 190.87 bushels per acre. A year ago, scouts on the tour calculated the average Minnesota corn yield at 170.76 bushels per acre. The tour's three-year average is 169.35 bushels per acre. Technically market is under fresh buying as market has witnessed gain in open interest by 0.52% to settled at 17300 while prices up 7 rupee, now Maize is getting support at 1339 and below same could see a test of 1333 level, And resistance is now likely to be seen at 1349, a move above could see prices testing 1353.

Trading Ideas:

Maize trading range for the day is 1333-1353.

Maize gains tracking firmness in overseas prices as prices were underpinned by strong exports

The October requirement of 1.5 million tonne too will need to be met with the stocks from 2014-15 crop.

NCDEX accredited warehouses maize stocks dropped by 47 tonnes to 13020 tonnes.

In Nizamabad maize prices gained 5.4 rupee to end at 1475.4 rupees per 100 kg.