Maize down 2.4% on selling pressure

Lower trend in overseas markets dampened the trading sentiments

Maize prices softened by Rs 33 to Rs 1,313 per quintal in futures trade today following selling pressure in line with weak physical markets sentiment.

Marketmen said increased selling by traders in line with arrivals of new crops amid reduced offtake in physical markets mainly led the fall in futures prices.

Lower trend in overseas markets also dampened the trading sentiments, they said.

At the National Commodity and Derivatives Exchange, maize prices for September contract fell by Rs 33, or 2.45%, to Rs 1,313 per quintal, with an open interest of 1,630 lots.