Prices of maize rose today due to a decline in arrivals amid largely firm demand from bulk buyers.

Maize was sold at 1,850 rupees per 100 kg, up 50 rupees.

Bulk demand, however, is seen falling in the coming days as most end-users may wait for the rabi maize to hit spot markets in March and prices to fall further.

 

It was a disappointing week for corn after the previous week corn managed to close higher for the first time in 3 weeks. Corn continues to consolidate trading in a 10 cent range from $3.85 to $3.76 in the March.

On the positive side corn did hold the upward channel line of support at the $3.76.

Corn was trading higher Friday until the USDA released their baseline projection numbers for the next 10 years.

That report projected 94.5 million acres of corn this year with a carryover of 2.7 billion bushels.