Maize futures fell on profit taking
Maize prices turned weak and lost Rs 10.50 to Rs 1,006 per quintal in futures trading owing to profit booking by traders at prevailing higher levels.
Marketmen said heavy supply along with reduced offtake by bio-fuel and cattle-feed makers at existing higher levels in the spot markets, largely put pressure on traders to minimize their holdings.
Lower overseas advices also helped to bring down the trading sentiment, they added.
At the National Commodity and Derivatives Exchange counter, maize prices for December-month contract slipped by Rs 10.50, or 1.03 per cent, to Rs 1,006 per quintal, with an open interest of 4,160 lots.
Most-active October month contract also fell by Rs 8.50, or 0.83 per cent, to Rs 1,021.50 per quintal, with an open interest of 10,820 lots.