Maize prices up.

Maize prices across key spot markets of the country rose despite steady arrivals, mainly due to a rise in demand from feed manufacturers and the poultry industry.

Prices are likely to remain firm going ahead due to aggressive buying by bulk consumers.

Prices are seen rising as bulk purchases have picked up pace amid fear of a further rise in prices due to a supply crunch

In both Nizamabad and Davangere, arrivals of maize were pegged steady at 500 bags and 450 bags (1 bag = 100 kg), respectively.

Corn futures ended the Tuesday session with gains of 1 to 2 cents in most contracts. The cmdtyView National Corn Price Index is pegged at $3.42 1/4, down 7 cents from this time last year.

That puts basis at -33 1/4 cents, 4 3/4 cents stronger than that same date in 2018.

Ahead of this Friday’s monthly WASDE update, analysts surveyed by Reuters expect US corn ending stocks for 18/19 to be steady from last month at 1.736 bbu.

Ethanol production and stocks for the week of 3/1 will be released on Wednesday.

The Commitment of Traders report showing data from the week ending on Feb 26 indicated that specs in corn futures and options held a net short position of 104,459 contracts on that date.