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November 17, 2008

 

India corn futures mixed
 
 

India corn futures on mixed on Monday with near-month contract that expires on Thursday, said analysts.

 

India corn futures increased on early export demand, but the far month contract declined on expected arrivals.

 

November corn NMZX8 futures contract increased 0.67 percent to Rs 829 per 100 kg on the National Commodity and Derivatives Exchange, while the December contract NMZZ8 decreased 0.48 percent to Rs 821.

 

Corn export deals for 100,000 tonnes of the new crop to Bangladesh and Southeast Asia were signed in the past three weeks, said traders.

 

Arrivals, which stood at a daily average of 50,000 bags of 100 kg each last week, were higher than the previous week's daily average of 40,000 bags, said traders and analysts.

 

The corn marketing year runs from October 2008 to September 2009.

 

US$1 = Rs 48.9750 (November 17, 2008)

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