Maize prices dropped by Rs 43 to Rs 1,402 per quintal in futures trading today as participants indulged in reducing their exposure amid a weak trend at the physical and global markets.
At the National Commodity and Derivative Exchange, maize for delivery in far-month November dipped by Rs 43, or 2.98 per cent to Rs 1,402 per quintal, clocking an open interest of 170 lots.
In a similar manner, maize for delivery in most-active August was trading lower by Rs 8, or 0.51 per cent to Rs 1,553 per quintal, having an open interest of 36,080 lots.
Marketmen said reducing of positions at current levels by participants and a weak trend at the domestic spot markets, mainly put pressure on maize prices at futures trade here.
Moreover, a weak trend in global market too attributed fall in maize prices, they said.
