Maize future eases on profit taking

Maize prices declined by Rs 8 to Rs 1,050.50 per quintal in futures trading today following increased selling by traders in line with a weak spot market sentiment.

Market analysts said profit booking on every surge in maize prices, pulled down futures prices.

Mounting of stocks and slackness in demand in the spot market influenced trading sentiments to some extent, they added.

At the National Commodity and Derivatives Exchange counter, maize price for delivery in February slipped by Rs 8 or 0.76 per cent, to Rs 1,050.50 per quintal, with an open interest of 6,260 lots. 

Current January-month delivery contract eased by Rs 7 or 0.67 per cent, to Rs 1,037 per quintal, with an open interest of 12,010 lots.