Maize price remained firm across key spot markets due to aggressive buying by bulk consumers and stockists. Anticipation of a fall in supplies in the coming few days also supported the prices.
Feed makers are aggressively buying the crop as the new crop arrivals in Bihar have started drying up. Bihar is the largest grower of maize in the rabi season.
On the NCDEX, maize futures ended higher tracking firm spot cues. The June maize contract closed at 1,950 rupees per 100 kg, up 0.4% from the previous close.
Maize prices are seen rising as the new crop arrivals in Bihar are shrinking amid prevailing uncertainty over maize imports.
Corn futures ended the session with most contracts 3 to 6 cents higher as rains continue to slow planting. The front month chart hit its highest price since May 2018, as new crop Dec was at the highest levels since last August.
The market is trying to talk producers out of taking the Prevent Plant insurance option, though some may not have a choice.
In the weekly Crop Progress report, NE and IA were 70% planted, MO was 62%, and MN @ 56%, with SD @ 19%. Forecasts show considerable amounts of rain for those area this week.
IL is also seen as catching some moisture, with 24% of the crop planted on 5/19, with IN @ 14% and OH 9% planted.