Maize futures up on global cues

Maize futures improved by Rs 9.50 to Rs 1,289 per quintal today, following increased buying by traders driven by firming overseas cues.

Marketmen said tracking firm global markets sentiment, traders preferred to enlarge their holdings, which supported the uptrend.

Restricted supply and pick up in demand in physical markets also gave push to the prices, they said.

At the National Commodity and Derivatives Exchange, the mid-March month contract moved up by Rs 9.50, or 0.74%, to Rs 1,289 per quintal, depicting an open interest of 570 lots.

Prices for January maize gained Rs 7, or 0.57%, to Rs 1,228 per quintal, showing an open interest of 9,550 lots.