Today Maize Outlook (19marc): Kedia Commodities
Published on Friday, March 19th, 2010 at 5:22 PMAuthor: onlinecommoditycalls (1958 Articles)
Maize futures on Indian commodity exchanges traded on range bound levels during yesterday. The March NCDEX futures traded in the range of 886.5 to 893 levels and ended the session at 887.5 levels
Outlook:
Maize futures are expected to continue with their range bound trade as there no fresh fundamental triggers as of now
New crop arrivals have started hitting the markets in Nizamabad markets, and the crop quality is good, thus some demand from the poultry and starch industry is expected
The spot prices of old crop are hovering around Rs 830 per quintal where as the new crop is fetching Rs 840 to 850 per quintal
Demand from the poultry industry is not so good at present as the they have enough stocks from the previous crop
CBOT corn ended on a weak note during last week and further no such triggering factors to support the corn prices at present. Moreover a good south American weather is weighing on prices amid high good global supplies.
Courtesy: Kedia Commodities
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