Increase in UP arrivals are causing markets to trade lower, warehouse delivered levels are traded between 1200-1220 today. Bihar warehouses are also trading at similar levels. Truck Freights have moved lower to Punjab/Haryana regions from Bihar as cargo origin moved towards UP. Other destination market prices are as below
Tamil Nadu :-.
Rake 1450-1450, Trucks 15600-1580
Bangalore :- Rake 1440-1450, Trucks 1550-1575
Hyderabad :- trucks 1530-1575.
Ahmedabad :- 1400-1440/60-1480 (super quality cargo buying)
Bihar :- 1160-70 Rake point, 1210-1220 warehouse.
North :- 1370-1390 UP cargo for Haryana/Punjab
Sangli : -1470-1490
July contract trading at 1298 down 2 from yesterdays close of 1300. Spot prices at 1256 and the open interest is at 2550 mt. Exchange cargo getting delivered in the warehouse as exchange is the best price master today.
International Market :-
Bangladesh customers looking towards India for crop coverage, rake quota not released yet. Cbot july contract closed at 348 cnts/bushel and is trading at about 350 cents/bushel. Massive short covering is witnessed in the markets.
Sensex & Nifty Update
Sensex and Nifty rallied by 429 points and 121 points respectively from previous days close. Rupee appreciated appreciably to 75.01 from 75.89 of yesterday’s close.
Per news Rains have reached Rajasthan two weeks earlier than usual, wherein 30% of maize crop has been sown till date. It’s Raining in MP/Bihar/Parts of UP/Telangana/Karnataka/Maharashtra. All maize key growing regions are getting covered.