Maize futures ease on weak spot demand

Maize prices receded by Rs 5 to Rs 1,385 per quintal in futures trade today as speculators reduced their holdings in line with the subdued trend at the physical markets.

Marketmen said cutting down of bets by traders in tune with a weak trend at the spot markets due to slackness in demand from consuming industries against mounting of stocks, weighed on maize futures prices.

At the National Commodity and Derivatives Exchange, maize for October eased by Rs 5, or 0.36 percent, to Rs 1,385 per quintal showing an open interest of 840 lots.

In line with the general trend, maize to be delivered in September went down by Rs 2, or 0.15 percent, to Rs 1,365 per quintal, with an open interest of 6,160 lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)