Maize futures surge on firm overseas cues

Maize prices looked up by Rs 21 to Rs 1,265 per quintal in futures trading today as participants created speculative positions, tracking a firming trend in global markets.
Furthermore, tight supplies in the spot markets from growing regions along with rising demand in spot markets boosted trading sentiments.
At the National Commodity and Derivatives Exchange, maize for delivery in current month was up by Rs.21, or 1.69 per cent to Rs.1,265 per quintal, with an open interest of 4,190 lots.
Also, maize for delivery in most-active September month contracts moved up by Rs 10, or 0.78 per cent to Rs 1,285 per quintal and in an open interest of 15,690 lots.

Marketmen attributed rise in maize prices at futures trade to a firming trend in global markets amid tight arrivals in the spot markets against rising demand.