Maize sheds 2% on aggressive selling

Traders offload positions as global markets slacken and and fresh crops arrive

Maize prices fell by Rs 33 to Rs 1,117 per quintal in futures trade today on the back of lower global markets sentiment.     

Marketmen said traders preferred to offload thier holdings after tracking lower international markets cues.
      
Arrivals of new crops and slackness in demand in physical markets was another weakening factor in maize futures, they said.     

At the National Commodity and Derivatives Exchange, maize price for delivery in month plunged by Rs 33, or 2.97 per cent, to Rs 1,117 per quintal, with an open interest of 50,950 lots.     

The May contract shed Rs 22, or 1.96 per cent, to Rs 1,100 per quintal, having an open interest of 4,380 lots.