The tender guessing games continues and we do not know how the Telangana govt is planning to get rid of the crop that it has bought. There is hardly any activity in the market and prices continue to be stable. If Telangana government does not release cargo, then we might see a spike in local market in Telangana and Andhra markets in short term. Destination market are as below
Tamil Nadu :- Rake 1350 (quality issues), Trucks 1450-1500
Bangalore :- Rake 1360-80, Trucks 1450-1480
Hyderabad :- trucks 1480-1520.
Ahmedabad :- 1300-1325/1390 (super quality cargo buying)
Bihar :- 1130-1140 Rake point, 1250-1270 warehouse.
North :- 1375-1475 (average to best quality prices ) cargo for Haryana/Punjab
Sangli : -1400
No trades done, nothing to report.
International Market :-
Crop losses seen rising in Ukraine on the weather front, while in the US and South America prices continue to trade lower, destination demand weak for the moment and china continues to buy corn looking at his high values in the local market. Cbot Dec contract is trading at 340 cents/bushel.
Delhi NCR is receiving a breather from day yesterday and day before heavy rains, while it continues to rain the major parts of the country. The trade assumption for damage on maize crop is not to worry, no damage to crop till now.
Sensex and Nifty
Sensex and Nifty are back in the green again, trading 318 and 89 points higher respectively, Rupee is trading at 74.89 appreciating by 16 paise versus yesterday’s close. India is reaching near 3 Myn Covid cases and recoveries are at 2.2 Myn. The fatality rate is moving lower and the recovery rate is moving up daily basis.