Maize extends gains in futures trade

Maize prices gained Rs 24.50 to Rs 1,386.50 per quintal in futures trading today following renewed buying on the back of a firm global market cues.

Market analysts said speculators indulged in creating fresh positions following a firming trend overseas.  

Strong demand from bio-fuel and cattle-feed making industries in domestic markets also boosted the trading sentiments, they added. 

At the National Commodity and Derivatives Exchange, maize for delivery in August shot up by Rs 24.50, or 1.80% to Rs 1,386.50 per quintal, depicting an open interest of 200 lots.

Maize for delivery in June also hardened by Rs 23, or 1.79% to Rs 1,308 per quintal, with an open interest of 12,810 lots.