Maize falls on weak sentiments

Maize prices declined by Rs 18 to Rs 1,211 per quintal in futures trading today due to increased selling by traders amid weak physical market sentiments.

Marketmen said reports of record production estimates put pressure on maize prices in futures trading.

Slackness in demand and increased supply from growing regions in physical markets also influenced trading sentiments to some extent, they added.

At the National Commodity and Derivatives Exchange counter, maize prices for September contract surrendered Rs 18, or 1.46 per cent, to Rs 1,211 per quintal, with an open interest of 16,050 lots.

Current July contracts also looked down by Rs 16, or 1.39 per cent, to Rs 1,136 per quintal, having an open interest of 10,490 lots.
 

Most active August contracts also lost marginally by Rs 8, or 0.67 per cent, to Rs 1,179 per quintal, depicting an open interest of 38,440 lots.