Maize on NCDEX settled up by 0.41% at 1455 due to high feed makers demand. In India, maize has been sown in around 15.96 lakh hectares which is higher than 14.49 lakh hectare covered during corresponding period last year. In Maharashtra, it has been sown in around 2.73 lakh hectares which is higher than 2.12 lakh hectare covered during corresponding period last year. In Bihar, it has been sown in around 4.48 lakh hectares which is higher than 4.38 lakh hectare covered during corresponding period last year. The International Grains Council raised its forecast for the global grains crop in 2016/17 from an already record level, partly driven by improved outlook for China's corn crop. 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 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. In Nizamabad maize spot prices dropped -2.1 Rupees to 1496.65 Rupees per 100kgs.Technically market is under short covering as market has witnessed drop in open interest by -8.21% to settled at 9610 while prices up 6 rupees, now Maize is getting support at 1446 and below same could see a test of 1436 level, And resistance is now likely to be seen at 1462, a move above could see prices testing 1468.

Trading Ideas:

Maize trading range for the day is 1436-1468.

Maize prices ended with gains due to high feed makers demand.

In Maharashtra, it has been sown in around 2.73 lakh hectares which is higher than 2.12 lakh hectare covered during corresponding period last year.

In Bihar, it has been sown in around 4.48 lakh hectares which is higher than 4.38 lakh hectare.

In Nizamabad maize spot prices dropped -2.1 Rupees to 1496.65 Rupees per 100kgs.