Thursday 19 November 2015

NCDEX MAIZE TRADING NEWS

Maize settled up by 0.84% at 1566 tracking firmness in spot demand despite of flat to trade in overseas prices. 

Maize sourced from Bihar is moving towards Kolkata at Rs.1700 per quintal. Stock of maize could be around 30,000 MT which was around 1,00,000 MT during the corresponding period of last year. In Nizamabad, maize prices ruled slightly lower than last month due to new crop arrival pressure. However, prices are higher than last year due to low stock position. Stock of maize in the Government’s warehouse is less than last year as prices ruled higher than MSP. In the Government’s warehouse, maize stock position is around 10,000 MT which was around 48,000 MT during the corresponding period of last year.

Trading Ideas:
Maize trading range for the day is 1509-1601.
Maize prices ended with gains tracking firmness in spot demand despite of flat to trade in overseas prices.
Stock of maize could be around 30,000 MT which was around 1,00,000 MT during the corresponding period of last year.
NCDEX accredited warehouses maize stocks gained by 407 tonnes to 8142 tonnes.
In Nizamabad maize prices gained 2.3 rupee to end at 1538.2 rupees per 100 kg.
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