Maize futures declines on weak spot cue

Maize prices fell by Rs 37 to Rs 1,544 per quintal in future trading today, tracking a weak trend at the spot markets on muted demand.
At the National CommoditiesCommodities and Derivatives Exchange, maize for delivery in December month contract dropped by Rs 37, or 2.34 per cent to Rs 1,544 per quintal, with an open interest of 14,270 lots.
Also, the maize for delivery in far-month January next year was trading Rs 32, or 1.99 per cent, lower at Rs 1,573 per quintal, in an open interest of 8,600 lots.
Marketmen attributed fall in maize prices at futures trade to offloading of positions by participants, taking weak cues from spot market.

Besides, rising inventories too put pressure on maize prices, they said.