We have clear skies for the next 4-5 days till the weekend in majority if the maize growing regions

Aga Analyst–Blog– (4 years ago)

We have clear skies for the next 4-5 days till the weekend in majority if the maize growing regions. With this weather we should see increased activities for crop harvesting in the regions.

Market Prices :-

We have seen railway indents being placed in Madhya Pradesh especially for Bangladesh in the view that the Bangladesh demand will continue to be there in the market and Madhya Pradesh maize will make parities for the same.

We heard about small scale PDS distribution of maize and jowar in Maharashtra especially in marathwada belt @ Rs 2-3/- kg. These are given in lieu of wheat and rice.

Processors are buying just spot cargoes, Bihar quality cargoes are trading at a premium priced @ 1400 whereas high FD (fungus damaged) cargo available @ 1100/- qtl also. It will be a challenge to store/dispose this cargo once the new crop arrivals starts settling in the market. Destination market prices are as below

Tamil Nadu :- Trucks 1530-1600,

Bangalore :- Trucks 1500-20

Hyderabad :- trucks 1520-1550

Ahmedabad :- 1370-80/1410-15 (super quality cargo buying)

Bihar :- 1400 (Good Quality) Average 1270 Rail head. High FD 1100-1120.

North :- 1300-1400/1500 (average to best to absolute best quality prices ) cargo for Haryana/Punjab

Sangli    : -1400-1420/ Grit quality 1480-1500.

We have Andhra tender today for 13000 Mt and tomorrow is a big day with the tender of 8.5 Lac Mt tender. Today is the last date for submission and tomorrow the tenders will be opened. How many bids received and the government will give cargo at what price are the two biggest questions.

 

Exchange :-

No trades, nothing to report for exchange cargo.

International Market  :-

Cbot dec contract trading at 363 cents/bushel down 2.2 cents from previous close. Nothing major to report on physical market changes, will see how this week plays out, no change in fundamentals as of now.

 

Sensex and Nifty

Sensex and Nifty continued their upward momentum closing nearly 600 points higher for sensex and 172 points for nifty. Rupee is trading at 73.66 versus previous day closing of 73.67.

Weather :-

We have clear skies for the next 4-5 days till the weekend in majority if the maize growing regions. With this weather we should see increased activities for crop harvesting in the regions.