Maize futures extend losses on low spot demand

Maize extended its falling trend at futures trade by losing another Rs 27 to Rs 1,388 per quintal today as participants engaged in trimming positions amid muted demand at the physical markets.
At the National Commodity and Derivatives Exchange, maize for delivery in November slid further by Rs 27, or 1.91 per cent, to Rs 1,388 per quintal, having an open interest of 7,460 lots.
Also, maize for most-active December slipped by Rs 23, or 1.64 per cent, to Rs 1,378 per quintal, with an open interest of 10,350 lots.
Maize for delivery in current month too fell by Rs 17, or 1.03 per cent, to Rs 1,631 per quintal, clocking an open interest of 3,170 lots.

Marketmen said offloading of positions by speculators amid a weak trend at the spot markets on low demand, continued to put pressure on maize prices at futures trade.