Maize rabi futures extend losses on weak spot cues

Maize rabi prices drifted lower by Rs 32 to Rs 1,327 per quintal in futures trade today as traders engaged in cutting down their bets tracking a weak trend at the physical markets.
Marketmen said continued offloading of holdings by participants in line with subdued spot markets where prices succumbed to constant supplies from growing regions, mainly kept pressure in maize prices here in futures trading.
At the National Commodity and Derivative Exchange, maize rabi delivery for September contracts dropped by Rs 32 or 2.35 per cent to Rs 1,327 per quintal, showing an open interest of 3,070 lots
Maize for most-traded August month contracts too slipped by Rs 25 or 1.88 per cent to Rs 1,308 per quintal, in an open interest of 12,200 lots.