Maize prices receded by Rs 0.99
per cent to Rs 1,197 per quintal in futures trade today on minimizing positions by the operators demoralized by sluggish spot demand.
Market players said trimming of positions by the participants in tune with falling prices in spot markets on ample stocks amid weak demand from poultry feed makers caused the fall in maize futures prices.
At the National Commodity and Derivatives Exchange counter, maize delivery for the June slipped by Rs 12 or 0.99 per cent to Rs 3,100 per quintal, with an open interest of 3,100 lots.
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