Maize futures might extend weaker trend for today as arrival pressure in southern India and sowing progress in Bihar regions might keep prices under pressure.
Global maize production estimates are much higher for current year. U.S Corn arrival season has started off which is affecting corn market sentiments across globe.
Demand for maize has been sluggish in Nizamabad and Davangere markets which might further support the down trend.
Rabi sowing prospects are reported to have started of which need to be closely watched. Down fall could be limited as world’s third largest corn exporter- Argentina has sown less acreage under corn in current year.
Maize NCDEX Dec-11 support: 1098 1100 resistance: 1104 1107 Sell at 1102/04 TP 1085 SL 1110
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