Maize futures slip on negative physical cues

Maize prices slipped by Rs 12 to Rs 1,356 per quintal in futures trade today on the narrowing of bets by speculators amid downbeat physical market sentiment.

Marketmen said traders were shrinking their holdings, guided by cheerless sentiment at spot markets, which directed the downfall at maize futures prices.

At the spot markets, prices were enquired lower due to subdued demand from poultry feed makers amid ample stocks on relentless supplies from growing belts, they said.

At the National Commodity and Derivatives Exchange counter, maize delivery for September came down by Rs 12 or 0.88 percent to Rs 1,356 per quintal, with an open interest of 5,480 lots.

In similar fashion, the delivery for October moved down by Rs 3 or 0.22 percent to Rs 1,385 per quintal with an open interest stood of 1,110 lots.

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