The state farm department has set maize output target at 472,500 tonne up 18.6% on year.
Prices of maize fell in Bihar Purnea market due to easing of concerns over crop damage due to rainfall. Rainfall at the start of the week had triggered fears of crop damage and also hit arrivals but now the arrivals have increase and weather has also cleared. Around 2,000 bags of maize arrived in the market today, up 500 bags. On the NCDEX, the most active June maize contract ended down as arrivals across the country are rising. The contract ended down 2% from previous close. Maize arrivals across the country are expected to rise in the coming days and are likely to create a bearish sentiment in the market
Futures of maize fell over 2% as arrivals of the rabi crop rose in the major markets across the country. The most active May maize contract down 2.5% from the previous close. Farm ministry has pegged India maize output at 26.15 million tonne in 2016-17 (Jul-Jun), up from 22.57 million tonne a year ago. Arrivals are expected to be on the rise till May 15, which is likely to keep prices subdued in the days ahead.
The National Cooperative Dairy Federation of India buy 750 tonne of maize through a reverse electronic auction on Friday. The commodity, used as cattle feed, be bought on behalf of Kerala Cooperative Milk Marketing Federation Ltd. The dairy body, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.
Prices of maize rose in the key market of Nizamabad, Telangana, due to firm demand from the poultry sector. The coarse grain was sold in Nizamabad, up 20 rupees from previous close. Arrivals during the day were around 3,000 bags, each carrying 100 kg of the grain. On the NCDEX, the most-active May contract ended 0.9% down on hope of rise in arrivals in the days ahead. Wheat and maize futures are expected to remain subdued as arrivals are likely to pick up in the days ahead.
Due to this year later start of corn planting against 2016 and in view of last week weather deterioration in Ukraine. This work already lags 66% behind last year. Corn was sown on 688 thousand hectares (15% of its projected area) compared with 2023 thousand hectares at the same date last year (45% of the projected).
Maize prices rose in Telangana Nizamabad market, the benchmark market for the coarse grain, because of a firm demand and low supply. In Telangana, the coarse grain was sold up 10 rupees from previous close. Around 2,000 bags (1bag=100kg) of maize arrived in Nizamabad down from 2,100 bags on previous close. On the National Commodity Derivatives Exchange, the June contract of maize fell as investors booked profits after prices hit a near four-month high on previous close. On NCDEX, the contract ended down 1.3% from the previous close.
The most active June contract of rabi maize on the NCDEX also ended down due to easing weather conditions in Bihar, the largest producer for the current season. The June maize contract on the NCDEX ended down 1.6% from the previous close. Rains in parts of Bihar had disrupted maize supplies to markets and triggered concerns of damage to the crop. Only 300 tonnne of maize arrived in Purnea market down from nearly 2,000 tonne on previous close. Lower supplies also lifted spot prices of the coarse grain and it was sold up 10-15 rupees from previous close.
The National Cooperative Dairy Federation of India buy 20,000 tonne maize, 9,800 tonne de-oiled rice bran, and 2,550 tonne polished rice through a reverse electronic auction on Tuesday. The commodities, used as cattle feed, will be bought on behalf of the Karnataka Milk Federation. The federation, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.
The National Cooperative Dairy Federation of India buy 3,000 tonne of maize through a reverse electronic auction. The commodity, used as cattle feed, will be bought on behalf of Karnataka Milk Federation. The federation, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.
South Africa’s Crop Estimates Committee (CEC) is expected to slightly lower its summer maize forecast next week but a bumper harvest is still seen. The CEC, which gives its next forecast on Tuesday, is seen pegging the harvest at 14.175 million tonnes, about 1% lower than its previous estimate of 14.32 million tonnes. This would still be over 82% more than the 7.78 million tonnes reaped last year, when drought hit the crop, pushing up food prices and inflation. The range was 13.5 to 14.6 million tonnes. yields depressed slightly in parts of the country’s maize belt where plantings were late and recent rainfall has been scattered.
Prices of maize rose marginally in the key market of Purnea in Bihar, as demand from other states as well as Stuckists rose. In Purnea, maize was sold up 10-15 rupees from previous close. Demand from companies such as Godrej, Cargill and Sugna was firm Arrivals in the market were pegged at 3,000 tonne unchanged from previous close. Arrivals of the coarse grain are likely to reach 5,000-6,000 tonne by the end of this month the most active June contract of maize on the NCDEX was up 0.6% from the previous settlement.
Maize futures on the NCDEX ended higher due to good demand from buyers for the new crop. The May contract of rabi maize ended at 1,407 rupees per 100 kg, up 0.8% from previous close.
Maize futures on the domestic exchange rose. Taking cues from firm demand in spot markets on the NCDEX. The most active June contract of rabi maize ended 1.3% higher. Maize prices, remained unchanged in Bihar’s key Purnea market. As good demand from Stuckists offset high arrivals. In Purnea, the grain was sold at 1,300 rupees per 100 kg, around 1,000 bags (1 bag = 100 kg) of the coarse grain arrived in Purnea, largely unchanged from previous close. Prices were also unchanged in the benchmark market of Nizamabad, Telangana.
Ukraine says 94 packet of spring grains sown so far. Farmers have also started 2017 maize sowing, seeding 341,000 hectares, or 8 percent of a planned 4.5-million-hectare area. A week ago, the ministry saw the planted area at 4.4 million hectares. Farmers have sown 31,000 hectares of soybean out of a planned 1.9 million hectares this year. They have also sown 1.3 million hectares of sunflower, or 24 percent of the expected area of 5.4 million hectares, and 263,000 hectares of sugar beet, or 90 percent of the forecast.
Prices of maize rose in the benchmark market of Davangere, Karnataka because of better quality of the crop arriving in the markets. In avangere, karnataka the grain was sold up 100 rupees from previous close. Telangana, prices remained unchanged. 700 tonne, arrivals in Nizamabad were unchanged from previous close. The most active June contract of maize on the NCDEX was up 2.2% from the previous settlement.
Prices of maize fell in Purnea, Bihar, as arrivals of the new crop picked up pace. The commodity was sold at in Purnea, down 50 rupees from the previous day. About 500 trucks (1truck=100kg) of maize arrived at the market up from 300 trucks on previous close. June contract of rabi maize ended slightly higher today due to a rise in demand for the new crop from the feed industry. The contract ended up 0.3%.