Lack of good quality maize cargo is hurting demand

Lack of good quality cargo is hurting demand, yesterday we have all of asia looking for our crop but is sceptical of Indian quality getting shipped. Arrivals are taking place as usual with MP Chindwara belt for about 4-5k of arrival every day, Prices are ranging from 1200-1320 in yards. Same levels are being indicated in Orissa and Maharashtra is trading around 1380-1420 ex levels at origins. In Telangana govt continues to buy cargo and keeps telling farmers we won’t buy in next season, so pls don’t sow maize but as farmer, (farmers) are left with little or no option but to plant maize. This is specific reason we need maize export subsidy all the more!!!!

Destination level prices are as below

Tamil Nadu :- Trucks 1550-1600,

Bangalore :- Trucks 1480-1500

Hyderabad :- trucks 1520-1560

Bihar :- 1430-1630 (Good Quality).

North :- 1540-1560

Sangli    : -1475-1500

Vizag delivered levels are 1500-1530 and so are for Krishnapattanam, but cargo quality is a big big question mark.

Exchange :-

Nothing trades, nothing to report.

International Market :-

Indian cargoes are being asked in SE Asian markets, lack of containers is keeping markets very edgy and now with the Railways controlling quotas even for Gour Malda, it will be a hell of a task to ship cargoes to Bangladesh by truck route, as Railways have controlled rake movement. It will be at an higher premium for shipping cargo to Bangladesh. Chicago is trading at 428 cents/bushel 3 cents higher from yesterdays close as of this report writing, we keep our view of markets being trading higher levels in the month of jan/feb both locally and in SE Asian regions.