Maize on NCDEX settled down by -0.14% at 1388 on profit booking after gaining earlier amid inconsistent quality even as maize harvest continues at rapid pace. Maize harvest continues at a fast pace in Telanagana, Karnataka and arrivals are somewhat good, but the quality of the produce is inconsistent. The farmers in non-irrigated areas had experienced dry patches during the monsoon season, which severely affected the grain setting as the temperatures were high. Post that, there have been damage to the crop due to excessive rains and farmers have complained of severe losses in corn belts of Telangana and Andhra Pradesh. The overall average productivity of 0.597 tonne per acre or 1.47 tonne per hectare of the surveyed area. At Naugachia market in Bihar sources reported arrivals at 50 Quintal, higher by 50 Quintal from previous trading day. At Koppal market sources reported arrivals at 10000 Bags, steady as against previous day’s arrival. South Africa's maize imports are currently at very high levels, with 33, 546 tonnes of white maize imported from Mexico last week, according to the latest official figures from SAGIS. South Africa is usually a net exporter of white maize, but will be an importer this year due to the drought. Yearly around 35,000 acres is brought under maize cultivation in Sirupakkam, Mangalore, Malyanur, Veppur and Thozudhur among other villages in the district, with an eye on the North-East monsoon. In Nizamabad maize spot prices dropped -14.8 rupees to 1443.3 rupees per 100kgs.Technically market is under fresh selling as market has witnessed gain in open interest by 1.56% to settled at 18890 while prices down -2 rupee, now Maize is getting support at 1383 and below same could see a test of 1378 level, And resistance is now likely to be seen at 1395, a move above could see prices testing 1402.

Trading Ideas:

Maize trading range for the day is 1378-1402.

Maize dropped on profit booking after gaining earlier amid inconsistent quality even as maize harvest continues at rapid pace.

Maize harvest continues at a fast pace in Telanagana, Karnataka and arrivals are somewhat good, but the quality of the produce is inconsistent.

At Naugachia market in Bihar sources reported arrivals at 50 Quintal, higher by 50 Quintal from previous trading day.

In Nizamabad maize spot prices dropped -14.8 rupees to 1443.3 rupees per 100kgs.