The corn market is showing strength as the season progresses. The arrival of new season corn continues steadily. Farmers are taking their time to properly dry the corn before delivering it, ensuring better quality, which has helped prevent any major pressure on the market.
At present, there are no indications of a significant market correction. Feed mill rates remain strong, reflecting steady demand. So far, only about 5% of the total corn crop has been harvested. Weather conditions are generally favorable for harvesting, with dry, sunny days and moderate temperatures helping to keep the grain dry and free from mold or damage. Harvesting pace is expected to pick up from 10th November, unlike from last year, as over 20% of the crop was sown earlier compared to the previous season.
Market Rates:
- New season corn: PKR 3,000–3,500 per maund, with 18%–20% moisture corn price around PKR 3,150 per maund delivered.
- Support level: PKR 2,900 (very strong)
Market Outlook:
The market is expected to maintain its firmness in the short term. As farmers managing deliveries efficiently and demand from feed mills remaining strong, however with increase in harvest market will likely to go down. Traders and buyers are advised to monitor arrivals and rates closely, as the PKR 2,900 support level will be key in maintaining market stability.
