Maize prices dropped by Rs 58 to Rs 1,404 per quintal in futures trading today as speculators preferred to trim their positions, triggered by muted spot demand.
Marketmen said offloading of positions by participants, tracking a weak trend at the physical market on subdued demand, mainly weighed on maize prices at futures trade.
Besides, a weak trend in global markets kept pressure on prices.
At the National Commodity and Derivatives Exchange, maize for delivery in October dipped Rs 58, or 3.97 per cent, to Rs 1,404 per quintal, with an open interest of 1,530 lots.
Maize for delivery in the most-active November was also trading lower by Rs 33, or 2.38 per cent, to Rs 1,352 per quintal, in an open interest of 5,310 lots.
