Maize kharif futures plunge by Rs 42/quintal

Maize prices slumped by Rs 42 to Rs 1.383 per quintal in futures trading today after trimming of holdings by participants, triggered by a weak trend at the physical markets.
Market players said that cutting down of holding by participants amid a weak trend at the spot markets due to a muted demand led to fall in maize kharif prices at futures trade here.
At the National Commodity and Derivative Exchange counter, maize kharif for delivery in May contracts plummeted by Rs 42, or 2.95 per cent, to Rs 1,383 per quintal, with the business turnover of 870 open lots.