Thursday 19 March 2015

MAIZE WITNESS UP BY 1.81% AT 1240 IN SPOT DEMAND

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Maize settled up by 1.81% at 1240 tracking firmness in spot demand and overseas prices. U.S. and world corn supplies are projected to be smaller than expected by the end of the marketing year due to rising export demand, . Maize trading range for the day is 1203-1267.
As per the second estimates, India is expected to produce 22.97 million tonnes of maize, which is 1.29 million tonnes (5.3 per cent) lower than last year production, the report said. Kharif production is estimated at 16.46 million tonnes and Rabi at 6.51 million tonnes, as area under Maharashtra, Andhra and Karnataka have declined.  In Nizamabad maize prices gained 11 rupee to end at 1297.5 rupees per 100 kg.Technically market is under fresh buying as market has witnessed gain in open interest by 7.23% to settled at 5190, now Maize is getting support at 1222 and below same could see a test of 1203 level, and resistance is now likely to be seen at 1254, a move above could see prices testing 1267.

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1 comments:

  1. Epic Research recommends Maize trading range for the day is 1446-1480. We have daily updated Agri product details that are helpful in your trading.

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