Maize futures up on brisk buying support

Maize futures prices surged by Rs 24.50 to Rs 1,119 per 100 kg today, as traders enlarged their holdings on the back of firm spot markets sentiment.

Market analysts said brisk buying by bio-fuel manufacturing units encouraged traders to raise holdings.  

Firming global cues also helped to boost the trading sentiment, they added. At the National Commodity and Derivatives Exchange, maize prices for delivery for April shot up by Rs 24.50, or 2.24 per cent, to Rs 1,119 per 100 kg, with an open interest of 2,630 lots. 

Prices for delivery in February hardened by Rs 16.50, or 1.52 per cent, to Rs 1,099 per 100 kg, with an open interest of 15,790 lots.

Prices for delivery in current month January also went up by Rs 5, or 0.48 per cent, to Rs 1,054.50 per 100 kg, with an open interest of 4,580 lots.