Maize prices fell across key spot markets due to a rise in arrivals. A fall in demand from bulk buyers and feed manufacturers also weighed on prices.

In Nizamabad, maize arrivals were pegged at 2,500-2,600 bags (1 bag = 100 kg) compared with 2,400-2,500 bags. In Davangere, arrivals were about 300-400 bags higher at 2,400 bags.

Arrivals were up as farmers and stockists started offloading the grain because of higher prices in the spot market.

Demand is seen firm as traders will start buying aggressively, anticipating an acute supply shortage owing to a smaller crop this year.

Taking a cue from the spot markets, futures contracts of maize fell on the NCDEX. Prices on the domestic exchange fell as traders booked profits after the contract rose sharply. The most-active May contract ended 40 rupees lower at 1,760 rupees per 100 kg.