Maize futures up on positive spot cues

Maize prices spurted by Rs 28 to Rs 1,453 per quintal in futures trading today after participants widened their positions, tracking a firming trend at the spot markets on the back of pick up in demand amid restricted supplies.
At the National Commodity and Derivatives Exchange counter, maize for delivery in October month contracts advanced by Rs 28, or 1.96 per cent to Rs 1,453 per quintal, with an open interest of 8,570 lots.
In a similar fashion, the delivery for December month contract increased by Rs 16, 1.18 per cent to Rs 1,371 per quintal and open interest depicted in 1,720 lots.

According to marketmen the rise in maize prices at futures trade was mostly attributed to enlarging of positions by speculators, triggered by rising demand at spot markets against tight arrivals.