NCDEX maize at over 1 month low on rise in spot arrival.

Maize futures on the NCDEX hit over a one month low of 1,150 rupees per 100 kg today due to rise in arrivals in spot markets. Maize arrivals in Bihar are rising now as the weather has improved and harvest is going on smoothly. On an average, about 20,000 tn of maize is arriving in Purnea, the benchmark market, in Bihar daily and supplies are expected to rise further in coming days. The harvesting was delayed initially because of low temperatures during growing stage and untimely rains afterwards, but now the quality of crop is good and concerns of crop damage are fading off.