Maize On NCDEX Settled Down By -0.5% At 1587

Maize on NCDEX settled down by -0.5% at 1587 tracking weakness in spot demand and overseas prices. In Nizamabad; stock of maize could be around 7000 MT which was 5000 MT last year. Area of maize is likely to increase due to shift from Soybean. In India, maize has been sown in around 68.26 lakh hectares as on 22nd July’ 16 which is higher than 62.61 lakh hectare covered during corresponding period last year. It is expected that maize sown area will increase due to favourable weather conditions.

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