Maize futures down on weak spot market cues

Maize prices were down Rs 19 to Rs 1,365 per quintal in futures trading today after participants reduced bets tracking a weak trend at the spot market on higher supplies form growing regions.

Marketmen said besides weak demand, adequate stocks following persistent supplies from growing regions in physical markets mainly led to the fall in maize prices in futures trade here.

At the National Commodity and Derivatives Exchange counter, maize delivery for the most-active delivery in November dropped Rs 19, or 1.37 per cent, to Rs 1,365 per quintal, with an open interest of 410 lots.

The delivery for most active first contract too dipped Rs 15, or 1.08 per cent, to Rs 1,377 per quintal, in an open interest of 17,330 lots.