Maize prices plummeted by Rs 42 to Rs 1,113 per quintal in futures trading today on fresh selling by traders, guided by weak domestic and global markets sentiment.
Market analysts said bumper crops production estimates this year amid weak overseas markets' cues advised speculators to reduce their positions.
At the National Commodity and Derivatives Exchange, maize for delivery in October dropped by Rs 42, or 3.64%, to Rs 1,113 per quintal, clocking an open interest of 2,130 lots.
Likewise, prices for delivery in July tumbled by Rs 28, or 2.80%, to Rs 1,200.50 per quintal, showing an open interest of 17,410 lots.
