Weather continues to be dry across maize growing regions

Poultry players (Broiler Integrators) are fetching the bird rated @ 90-100 across different regions in the country, with the Day Old Chik prices ranging from 40-47. The soya meal rates are a spoiler for Poultry people else the margins would have looked fantabulous. Wet corn millers are quietly crushing and exporting their produce and are busy locking positive margins from the trade.

Weather continues to be dry across maize growing regions, though some light rains/thundershowers are expected over regions of west Madhya Pradesh during the week. In terms of impact very little or none is expected. Bihar is the topic of discussion in the markets from now on and one can see if sellers are looking to sell forward, buyers looking to cover? Now? Or spot. It is this discussion which is keeping markets engaged.


Market prices for the regions

Ahmedabad :- 1550-1600

Tamil Nadu :- 1660-1685

Hyderabad  :- 1630-1650

North           :- 1600-1630

Maharashtra :- 1500 (Origin), 1600(Destination Pune/Mumbai)


International Market :-

Argentine corn is the flavor for the corn traders, if one can get the required vessels and freight to SE Asia, Board is trading at 553 for may contract and Argentina premium quoted are at 35cents. We are witnessing limited buying/no buying at ports and Bangladesh markets are also not supporting as their own domestic crop is about to harvest.

Overall quite times ahead till the time we see Bihar crop in the Markets.