Maize futures down as participants trim position

Maize futures traded lower by Rs 12 to Rs 1,150 per quintal today as traders reduced their holdings coupled with a weak trend at the physical markets.

Marketmen said, cutting down of positions by participants and a weak trend at the spot markets on fall in demand from poultry feed makers against ample stocks, mainly led to the fall in maize prices at futures trade here.

At the National Commodity and Derivatives Exchange, maize to be delivered in July edged down by Rs 12, or 1.03 per cent, to Rs 1,150 per quintal, in an open interest of 8,580 lots.

Maize for delivery in August, too, fell by Rs 9, or 0.76 per cent, to Rs 1,170 per quintal with an open interest of 5,270 lots.