Maize on NCDEX settled up by 0.21% at 1446 amid firmness in spot demand and overseas prices. In India, maize has been sown in around 14.72 lakh hectares which is higher than 13.46 lakh hectare covered during corresponding period last year. In Maharashtra, it has been sown in around 2.41 lakh hectares which are higher than 2.10 lakh hectare covered during corresponding period last year. In Bihar also, it has been sown in around 4.47 lakh hectares which is higher than 4.36 lakh hectare covered during corresponding period last year. The area under the rabi maize crop across the country was at 1.01 mln ha up 6.4% from a year ago, according to data released by the farm ministry. A year ago, farmers had sown maize across 953,600 ha. The acreage this year is also sharply higher than the normal acreage of 693,900 ha for this period, based on the average of the last five years, the data showed. At Naugachia market in Bihar, sources reported arrivals at 500 Quintal, unchanged as compared to previous day's arrival. At Nizamabad market in Andhra Pradesh, arrivals were reported at 2000 Qtl, steady as against previous day's arrival. At Khanna market in Punjab arrivals were reported at 3750 Quintal, unchanged as compared to previous day's arrival. Trader estimates of net fund buying in corn ranged widely from net buyers of 11,000 contracts to net sellers of 4,000 contracts. In Nizamabad maize spot prices gained 5 rupees to 1485 rupees per 100kgs. Technically market is under short covering as market has witnessed drop in open interest by -2.96% to settled at 14110 while prices up 3 rupee, now Maize is getting support at 1443 and below same could see a test of 1441 level, And resistance is now likely to be seen at 1447, a move above could see prices testing 1449.

Trading Ideas:

Maize trading range for the day is 1441-1449.

Maize prices ended with gains amid firmness in spot demand and overseas prices.

In Maharashtra, it has been sown in around 2.41 lakh hectares which are higher than 2.10 lakh hectare.

Trader estimates of net fund buying in corn ranged widely from net buyers of 11,000 contracts to net sellers of 4,000 contracts.

In Nizamabad maize spot prices gained 5 rupees to 1485 rupees per 100kgs.