Prices of maize unchanged in most markets

The price of maize in Nizamabad, a major market in Telangana, was unchanged due to sluggish demand from the feed industry at higher prices.

Producers and stockists are rapidly trying to clear old stock as the new crop is likely to arrive in the market within a few days.

In Davangere, a key market in Karnataka, maize prices were unchanged due to weak demand from bulk buyers.

The November maize futures contract on NCDEX ended 0.5% lower at 1,990 rupees per 100 kg.

Corn futures closed Monday with minor to fractional losses in nearby contracts. The usual Monday reports are going to be released tomorrow, as the USDA was closed Monday for Columbus Day.

Trade estimates for corn harvest are around 22-23% complete as of Sunday, which would be behind the 35% average.

Drier weather expected for this week should allow harvest to progress in some areas not hit by recent precip events. Another round of moisture is expected this weekend along the Corn Belt.