Maize largely steady

Maize, prices rose marginally despite a rise in arrivals as demand from bulk buyers and feed manufacturers remained firm.
The arrivals rose as farmers and stockists started offloading the commodity at higher price levels. Demand is likely to remain firm in the coming days as bulk buyers will start buying aggressively anticipating a supply shortage due to a decline of production this year.

In Nizamabad, maize arrivals were pegged at 2,400-2,500 bags (1 bag = 100 kg), compared with 1,900-2,000 bags. In Davangere, arrivals were about 300-400 bags higher at 2,000 bags. Taking a cue from the spot markets, futures contracts of maize were largely flat on the NCDEX. The most-active June contract ended 5 rupees higher at 1,770 rupees per 100 kg.