Friday, 27 March 2015 18:33

Maize

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Maize Strategy Till 09/01/15
Security Trend Lower Side Upper Side Recommendation
Maize Down 900 1250 Sell on high
Risk to View: Farmers shift to maize production may increase overall output.
Today's Update:

India:

>Firm buying and slow supply in the physical market has supported Maize prices. Increasing demand by consuming industry has supported commodity prices.

Global Market:

>Corn prices fell at U.S. market due to weak export demand and ample supply.

>China, the No. 2 grower, will produce less for the first time in five years. Output will fall 3.6 percent, the biggest drop in a decade, to 210.6 million tons.

>World output will be 979.7 million tons, the London-based International Grains Council said on Oct. 30, raising its outlook for a sixth time

>Corn futures have fell 13 percent this year on the Chicago Board of Trade.

>U.S. Department of Agriculture lowered its crop estimate by 0.5 percent and said that stockpiles at the end of the season will be 3.5 percent smaller than predicted in October.Prices gained as much as 3.1 percent after the surprise cut.

>Farmers have harvested 89 percent of the U.S. corn crop, up from 80 percent a week ago and slightly higher than five-year average of 88 percent, the USDA said on Monday.

Major Events Affecting Maize:

>More harvesting and favorable weather likely to lower international corn prices.

>Abundant supply and less demand is expected to keep corn prices under pressure at global market.

>As per the first advance estimate of 2014-15 by ministry of agriculture Kharif Maize production may come near to 16.03 million tonnes against the target of 17.0 million tonnes

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