Maize On NCDEX Settled Down -0.2% At 1505

Maize on NCDEX settled down -0.2% at 1505 tracking weakness in spot demand and overseas prices. As acreages under maize scale a new high this kharif season aided by ample rains, the prospects of a good harvest have turned brighter this year. However, the predictions of excess rains in September by the Met could possibly dent the output and quality of the produce. Farmers across the country, lured by the relatively higher prices ahead of the kharif planting season, have sown an additional area of close to one million hectares under maize or corn this year, while the late planting was still going on in some areas.

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