Maize prices remained steady across key spot markets due to a decline in both arrivals and demand.

Demand was subdued today as bulk consumers avoided purchasing due to a sharp rise in prices (earlier).

On NCDEX, maize futures rose due to an anticipated supply shortage in the coming days. The most-active July contract rose 0.6% to 2,000 rupees per 100 kg.

Corn futures ended the session down 6 to 8 cents and within a penny of the lows in most nearby contracts, as July options expired. July futures were down 2.37% this week.

Friday afternoon’s Commitment of Traders report indicated that spec funds in corn futures and options added another 32,303 contracts to their net long position as of Tuesday, taking it to 143,515 contracts.

Total US export commitments for 18/19 are now 87% of USDA’s export projection, vs. the 99% average.

Accumulated exports are in line with the normal pace at 75%, but unshipped sales are lagging.

With US FOB prices at such a large premium, it will be difficult to see old crop bookings pick up in the fourth quarter. The Buenos Aires Grain Exchange pegs the Argentine corn harvest at 44.2% complete, lagging the 50.3% average pace.