Maize On NCDEX Settled Down -1.02% At 1460

Maize on NCDEX settled down -1.02% at 1460 tracking weakness in spot demand as investors waited for the latest U.S. government supply and demand forecast. In A.P and Telangana, maize is likely to trade steady in the near term. Stock of maize could be around 10,000 MT which was 20,000 MT last year. In Nizamabad; stock of maize could be around 1000 MT which was 3000 MT last year. Maize crop is in good condition and expected to arrive after mid September. The International Grains Council said this week in their monthly report that the country’s 2016/17 maize production would improve to 12.9 million tons, up by 68 percent from their 2015/16 estimate of 7.7 million tons.

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