Maize On NCDEX Settled Up By 0.14% At 1434



Maize on NCDEX settled up by 0.14% at 1434 tracking overseas prices on strong demand and slow selling by U.S. farmers. Spot basis bids for corn at processors and river markets around the U.S. Midwest were steady to firmer after increased export business and higher futures prices deterred farmer sales. Private analytics firm Informa Economics projected Argentina's 2016/17 corn production at 36.5 million tonnes – in line with what the U.S. Department of Agriculture has estimated. Export inspections of corn came in at 1.15 million tonnes, also higher than the top end of market expectations. But export inspections of wheat were 453,633 tonnes, in line with estimates. At Khanna market in Punjab estimated market supply was at 3000 Quintal, steady as against previous day’s arrival.

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