Market Prices :-
The Telangana tender part two has been scheduled, part one disqualified. It looks like the story second time too going by previous years’ experience. There is no news on Andhra Tender. The Arrivals in Bihar are slowing down and prices are stabilising at the moment. Sowing report to be shared once released by day end/tomorrow morning. Destination market prices are as below
Tamil Nadu :- Rake 1390- 1400, Trucks 1480-1520
Bangalore :- Rake 1390-1400, Trucks 1530-1565
Hyderabad :- trucks 1490-1520.
Ahmedabad :- 1300-1325/1370 (super quality cargo buying)
Bihar :- 1100-1120 Rake point, 1200 warehouse.
North :- 1280-1300 UP cargo for Haryana/Punjab
Sangli : -1370-1380
Aug/Sep contract are yet to trade as of this report writing. Spot prices are at 1220 levels and open interest is at 2200 Mt for Aug contract.
International Market :-
Cbot dec contract trading at 327 cents/bushel, Chinese corn buying continues from the US and Bangladesh rake quota is still awaited from the Indian Railways. Indian markets will take cues from the quota release and will then price itself accordingly.
The weather men predicts rains for all major corn growing regions in the next 4-5 days including regions of Madhya Pradesh and Rajasthan the deficit regions so far.
Sensex and Nifty
Sensex and Nifty are trading 150 and 50 points lower respectively as compared to yesterday’s close. Rupee is trading at 74.78 as of this report writing. Covid cases have crossed 16 lacs and todays cases reported were more than 50k in a single day. The recovery rate is going up for Indians.