Maize futures succumb to profit-booking

Maize prices dropped by Rs 27 to Rs 1,231 per quintal in futures trading today after participants locked-in gains at existing levels, triggered by weak overseas as well as domestic cues.
At the National Commodity and Derivatives Exchange, maize for delivery in April lost Rs 27, or 2.15 per cent, to Rs 1,231 per quintal, having an open interest of 2,060 lots.
On similar lines, maize for May eased by Rs 5, or 0.41 per cent, to Rs 1,215 per quintal, in an open interest of 10,620 lots.
Marketmen said the fall in maize prices at futures trade was mostly attributed to profit-booking at prevailing levels amid weak global and domestic cues.

Moreover, persistent supplies too weighed on maize futures here, they said.