Price of maize across key spot markets fell despite supply being tight, because of weak demand from food manufacturers.
Demand was low following Telangana government’s decision to sell 400,000 tn of maize at a discounted rate to poultry units in the state.
Andhra Pradesh spot market prices at 2100 rs per 100 kg, down 50-70 rupees. On the NCDEX maize traded down. Rabi Gulabbagh NCDEX future down 0.06 %, at 2131 rs/qtl.
CBOT March corn at $3.73-3/4 per bushel. The most active corn futures were up 0.1 percent at $3.74-3/4 a bushel, having closed 0.6 percent in the previous session, when prices hit their weakest since Jan. 16 at $3.74 a bushel.