AP tender got bids for about 12000 MT in the tender of 1.20 Lac MT. The tender for the balance quantity will be held in next week. Tender over 1250 expected to be awarded, decision yet to be made.
Arrivals have started in Maharashtra/Karnataka with high moisture quality cargoes. Wet corn milling processors are the biggest buyers for this type of cargoes. Good quality cargoes are trading at a premium in Bihar/Maharashtra/Gujarat/Punjab.
Rake trades expected to be starting in next fortnight where in sizeable quantity and better quality stocks are found in the market. Destination market prices are as below
Tamil Nadu :- Trucks 1450-1500,
Bangalore :- Trucks 1420-1430
Hyderabad :- trucks 1470-1490
Ahmedabad :- 1340-1370/1390 (super quality cargo buying)
Bihar :- 1420-1450 (Good Quality) Average 1270-1290 Rail head. High FD 1120-1150.
North :- 1370-1420/1500 (average to best to absolute best quality prices ) cargo for Haryana/Punjab
Sangli : -1350-1380/ Grit quality 1440-50.
Nothing to report no trades. Stok of 60 MT in the exchange warehouse.
International Market :-
Cbot dec contract is trading steady at 380 cents/bushel. Indian maize demand is getting attention from Bangladesh and US crop looks sold out for OND, what one can get is Jan end/Feb shipment indications. Weather is a concern in Argentina/Brazil and on top market awaits the USDA report on Friday 09th October 2020. Till then market expected to trade sideways.
US president Trump is recovering well and Sensex/Nifty is trading higher @ 39302/11589 by 337 points/87 points as of this report writing. Rupee is trading lower @ 73.44 versus yesterdays close of 73.11.
Weather all clear for maize growing regions except for some areas of Orissa and Karnataka where light rainfall is expected during the week. Clear weather is giving way to harvesting for arrivals in the market.