Price of maize across key spot markets rose despite marginal rise in arrivals due to firm demand from feed manufacturers and poultry industry.

Prices rose as the bulk buyers are buying the commodity aggressively anticipating an extreme tight supply in the coming days.

Prices are unlikely to soften in the coming weeks as the demand from feed manufacturers are likely to remain firm going ahead.

In Nizamabad, arrivals were pegged at 500 bags (1 bag = 100 kg), 100 bags higher. In Davangere, arrivals were at 500 bags, compared with 450 bags.

Corn futures closed Wednesday with most contracts down 1 to 2 1/2 cents. The weekly EIA report showed ethanol production of 1.028 million barrels per day in the week of 2/22.

That was up 32,000 bpd from the week prior. Ethanol stocks were down 204,000 barrels at 23.709 million barrels. The Gulf was down a sharp 707,000 barrels, with the West Coast the only other region lower, down 217,000 barrels.

USDA Sec Perdue back tracked on earlier comments and stated the EPA will likely have the E15 rule in place by the summer, after talking with the EPA Chief Wheeler.

South Korean importers have purchased 269,000 MT of corn in tenders this week, with origin most likely South American. Traders are looking for the USDA to show old crop weekly export sales for the week ending 2/21 @ 700,000 MT to 1.2 MMT.