Maize on NCDEX settled up by 0.49% at 1429 tracking firmness in spot demand and overseas prices. In India, maize has been sown in around 5.01 lakh hectares as on 25th November' 16 which is lower than 5.63 lakh hectare covered during corresponding period last year. Maize sourced from Davangere moved towards Bangalore and Nammakal at Rs. 1550 per quintal, 1620 per quintal respectively. It is being traded slightly down as maize crop is hitting in Tamilnadu market from Maharashtra. At Koppal market estimated market supply was at 10000 Bags, up by 2000 Bags as compared to previous day. At Naugachia market in Bihar estimated market supply was at 833 Quintal, down by 834 Quintal as compared to previous day. At Ahmedabad market in Gujarat, sources reported arrivals at 4000 bags, lower by 1000 bags as against previous day. The USDA's November WASDE report projected that U. S. stocks of corn will grow from 1.738 billion bushels at the beginning of the current marketing year to 2.403 billion bushels at the end of the marketing year. Large increases in stocks are expected even though corn consumption during the current marketing year is expected to exceed that of last year by 948 million bushels (6.9%). Increased corn consumption is projected in both the feed and residual and export categories. In Nizamabad maize spot prices gained 4.5 rupees to 1445 rupees per 100kgs. Technically market is under short covering as market has witnessed drop in open interest by -15.03% to settled at 14420 while prices up 7 rupee, now Maize is getting support at 1421 and below same could see a test of 1414 level, And resistance is now likely to be seen at 1433, a move above could see prices testing 1438.

Trading Ideas:

Maize trading range for the day is 1414-1438.

Maize prices ended with gains tracking firmness in spot demand and overseas prices.

At Naugachia market in Bihar estimated market supply was at 833 Quintal, down by 834 Quintal as compared to previous day.

NCDEX accredited warehouses maize stocks gained by 101 tonnes to 4173 tonnes.

In Nizamabad maize spot prices gained 4.5 rupees to 1445 rupees per 100kgs.