Maize futures decline on aggressive selling

NEW DELHI: Maize prices fell by Rs 33 to Rs 1,117 per quintal in futures trade today on the back of lower global markets sentiment.

Marketmen said tracking lower international markets cue, traders preferred to off-load their holdings.

Arrivals of new crops and slackness in demand in physical markets was another weakening factor in maize futures, they said.

At the National Commodity and Derivatives Exchange, maize price for near contract June month plunged by Rs 33, or 2.97 per cent, to Rs 1,117 per quintal, with an open interest of 50,950 lots.

Current May contract also slipped by Rs 22, or 1.96 per cent, to Rs 1,100 per quintal, having an open interest of 4,380 lots.