Maize On NCDEX Settled Up By 1.71% At 1544

Maize on NCDEX settled up by 1.71% at 1544 tracking firmness in spot demand and overseas prices on a wet forecast for the US Midwest, with ideas that it would delay planting. It is true that US crop data showed planting is lagging last year, particularly in the Midwest. Across the US, corn planting is now 6% complete, lagging the average pace of planting by three points, and last year's pace by five points. Corn planting in the Delta region is nearly complete, but is lagging across the Corn Belt, particularly in Missouri, where plantings are lagging last year by 33 points, at 17%.Global ending stocks for corn in 2016-17 were lifted by 2.3m tonnes, beating expectations by some 900,000 tonnes. Farmers in China will plant less corn this season, resulting in the nation’s smallest crop in six years.

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