Maize rabi futures plunge on weak spot demand

Maize rabi prices went down by Rs 39 to Rs 1,203 per quintal in futures trading today as participants reduced exposure amid muted trend at the physical markets.
Marketmen said weak demand and rising ready stocks on constant supplies in spot markets, mainly weighed down on the prices.
At the National Commodity and Derivatives Exchange, maize rabi for delivery this month slumped by Rs 39, or 3.14 per cent, to Rs 1,203 per quintal, with an open interest of 5,650 lots.