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Informist, Thursday, Jul. 2, 2026

 

By J. Navya Sruthi

 

MUMBAI – Wheat, maize and rice prices were steady across key domestic markets on Thursday due to a lack of fresh cues, traders said. Maize and rice prices are expected to rise due to below-normal rainfall during the southwest monsoon, which is expected to affect output. Maize acreage is likely to fall during the ongoing kharif season as farmers shift to soybean due to attractive returns, traders said. 

 

MAIZE prices in Indore in Madhya Pradesh were stable at INR 2,400 per 100 kilograms after rising around INR 50 this week, said Gaurav Kochar, a local trader. However, market participants expect prices to rise further due to concerns about lower kharif production this year, as farmers in key states are returning to soybeans due to attractive prices.

 

Moreover, forecasts of below-normal rainfall during the southwest monsoon are likely to weigh on grain production, thereby supporting prices, traders said. Maize acreage fell to 1.57 million hectares from 1.86 million hectares a year ago as of Jun. 25, according to data from the agriculture ministry.

 

WHEAT prices in Indore were steady after rising for three consecutive days at INR 2,720 per 100 kg, Kochar said. "Sowing of kharif crops has begun after a delay in Madhya Pradesh due to the late onset of monsoon. Most wheat farmers also cultivate soybeans during the kharif season. With farmers busy with sowing, arrivals in the market have decreased," the trader said. 

 

Even though arrivals remained low, it did not push up prices due to lacklustre demand for the grain, Kochar said. However, traders expect arrivals to fall further in the near term as kharif sowing is likely to begin in full swing across the state after monsoon showers commenced over Madhya Pradesh last week. This will support wheat prices in the near term. 

 

Prices of wheat in Vashi, Navi Mumbai, were steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Prices are unchanged because both demand and supply were steady, he said. The market is waiting for the government to announce the commencement of open-market wheat sales, which is likely to influence near-term spot market price movements, dealers said.

 

Prices of RICE varieties were steady in Vashi, Vora said. Prices of the 1409 and 1509 varieties of basmati rice were steady at INR 9,600-INR 9,700 per 100 kg and INR 8,200-INR 8,300 per 100 kg, respectively, he said. Prices of the 1121 variety of basmati rice were also steady at INR 10,000–INR 10,200 per 100 kg, he said. Prices of sona masoori rice were steady at INR 6,000 to INR 6,500 per 100 kg in Vijayawada's Bhavanipuram in Andhra Pradesh, Ravi Shankar, a local trader, said. 

 

The market is monitoring monsoon progress for further cues, traders said. They expect prices to rise due to concerns about a below-normal monsoon this season. "By Jul. 15, we will have an idea about acreage and production. Currently, there is not much rainfall here (Andhra Pradesh), because of which sowing is slow," Shankar said. 

 

After recording 40?low-normal rainfall in June, India is likely to have below-normal rainfall in July as well, mainly due to persistent El Nio conditions. The average rainfall during July is expected to be around 94% of the long-period average of 280.4 mm, the India Meteorological Department said.  End

 

Edited by Saji George Titus

 

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