Maize fall marginally on weak demand

Meanwhile, prices of maize fell across key spot markets due to a decline in demand at higher levels.

Demand from bulk consumers was subdued at higher prices due to tight supply.

On NCDEX, maize futures too, ended marginally lower taking cues from the spot markets. The most-active July contract fell 0.2% to 2,005 rupees per 100 kg.

Corn futures saw mixed trade with front months fractionally to 1 1/4 cents higher and deferred 2020 contracts 1 to 3 cents lower. Warmer weather in the forecast may help to progress the crop that is at record slow pace.

After the Monday close, NASS reported crop condition ratings declining 5 points to 349.

Ratings in OH fell the sharpest, down 26 points, with MI (-16), IN (-13), ND (-13), MO (-8) and IL (-7) all reported lower. IA rose 6 points, with MN up 3 and NE 2 points higher.

The average trade estimate for corn acreage ahead of Friday’s USDA report is 87.03 million corn acres for the US in 2019 according to a Bloomberg survey.

USDA has stated that corn can be planted for silage on prevent plant acres as a “cover crop,”