Maize prices fell across key spot markets due to a decline demand at higher price levels.
Demand remained subdued as bulk consumers avoided purchasing at higher prices due to a tight supply.
On NCDEX, maize futures fell marginally but the fall was capped due to an anticipated severe supply shortage in the coming days. The most-active July contract fell 0.1% to 1,995 rupees per 100 kg.
Corn futures settled mostly 2 to 4 3/4 cents higher with nearby months the strongest.
USDA showed 617,740 MT of corn shipments during the week that ended on June 20 in this morning’s Export Inspections report. That was down 8.9% from last week and less than half of the same week last year.
In addition, 109,914 MT of sorghum was shipped to China.
After the close, NASS reported that 96% of the US corn crop has been planted, a little less than expected but also implying fewer abandoned acres.
Crop condition ratings declined, with 56% of the crop rated good or excellent. The Brugler500 index dropped 5 points to 349. It was 390 last year. It was 355 this week in 1993, which some are using as a weather analog year.