Bullish Trend To Continue In Maize On Strong Export Demand.

Bullish trend might continue in maize market in the wake of strong export demand along with steady gains in other coarse cereals. As per market sources, India's total maize export is likely to reach 23 lakh tonnes in 2010-11 marketing year (October-September) against 7 lakh tonnes in the previous year. Traders are expecting the export demand to reach 30 lakh tonnes in the coming months.This are likely on the heels of robust demand from Asian countries for their feed requirement. Prices might garner strong boost from steady trend in other feed grains such as Barley and Sorghum in major mandies . The spot prices of barley and sorghum have witnessed the gains of over 2% in the last one week.

The NCDEX Maize April prices increased by Rs. 21 per quintal to settled at Rs. 1291 per quintal in the last week. Traders are expecting some more buying in the coming days.

Source : indiainfoline.com