Maize prices declined by Rs 14.50 to Rs 1,074 per quintal in futures trade today as speculators preferred to off-load their positions in tandem with weak spot market cues.
Marketmen said weak demand from bio-products making industries along with increased stocks in the physical markets mainly put pressure on maize futures price here.
In addition, a weak trend in the international markets influenced the trading sentiment.
At the National Commodity and Derivatives Exchange, December maize declined by Rs 14.50, or 1.33%, to Rs 1,074 per quintal, with an open interest of 3,380 lots.
The November contract moved down by Rs 13, or 1.23%, to Rs 1,045 per quintal, with an open interest of 11,160 lots.
Likewise, prices for delivery in October eased by Rs 8, or 0.79%, to Rs 998.50 per quintal, with an open interest of 19,510 lots.