Maize on NCDEX settled up by 1.16% at 1480 tracking firmness in overseas prices and due to stockiest demand. In Ahmadabad region of Gujarat, poultry feed makers quoted maize steady at Rs. 1500 per quintal while starch feed makers quoted it firm by Rs. 5 per quintal to Rs. 1530 per quintal compared to last week. The U. S. Department of Agriculture's weekly export sales report put corn sales at nearly 1.4 million tonnes, topping a range of trade expectations. The USDA also said that private exporters in the last day sold 126,312 tonnes of U. S. corn to unknown destinations. The International Grains Council raised its forecast for the global grains crop in 2016/17 from an already record level, partly driven by an improved outlook for China's corn crop. In India, maize has been sown in around 14.72 lakh hectares as on 13th January’ 17 which is higher than 13.46 lakh hectare covered during the 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 the corresponding period last year. In Bihar also, it has been sown in around 4.47 lakh hectares which are higher than 4.36 lakh hectare covered during the 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. In Nizamabad maize spot prices gained 11 rupees to 1500 rupees per 100kgs. Technically now Maize is getting support at 1468 and below same could see a test of 1455 level, And resistance is now likely to be seen at 1491, a move above could see prices testing 1501.

Trading Ideas:

# Maize trading range for the day is 1455-1501.

# Maize prices ended with gains tracking firmness in overseas prices and due to stockiest demand.

# USDA’s weekly export sales report put corn sales at nearly 1.4 million tonnes, topping a range of trade expectations.

# USDA also said that private exporters in the last day sold 126,312 tonnes of U. S. corn to unknown destinations.

# In Nizamabad maize spot prices gained 11 rupees to 1500 rupees per 100kgs.