Maize futures gain on spot demand

Maize prices looked up by Rs 3 to Rs 1,306 per quintal in futures trade today on creation of bets by speculators backed by rising physical market trend.

Marketmen mentioned the uptick in maize futures prices to emerging trend in the spot market, where prices enquired higher on the back of gearing up in demand for poultry feed makers amid tight stocks position.

At the National Commodity and Derivatives Exchange, maize delivery for September edged up by Rs 3, or 0.23 per cent, to Rs 1,306 per quintal, with an open interest of 3,190 lots.

Similarly, the delivery for August inched up by Rs 2, or 0.16 per cent, to Rs 1,273 per quintal, in an open interest of 6,910 lots.