MUMBAI (Commodity Online): Maize futures declined Saturday on selling pressure by the traders on the back of subdued demand in the spot markets.
In NCDEX maize February contract is trading at Rs.1179.50 per quintal, down by 1.21 per cent on 11:15 AM against the previous close.
In the morning session the contract traded at a range of Rs.1160-1196 per quintal. Open interest of the contract is 13460 lots and volume traded is 3450 lots for the time being.
Maize prices remained stable to weak as buying by poultry farmers was not strong. Dip in prices of eggs from Rs.247 to Rs.235 for 100 nos. through the week, indicating a likely slackening demand for maize.
International prices continued to remain strong, with CBOT March Corn futures trading around 640 cents/bushel.
