Maize prices remained weak across key spot markets due to a fall in demand from bulk users at high prices.

Bulk buyers are waiting for the imports to start soon and have curtailed their purchases as imports are more attractive due to rising domestic prices.

On the NCDEX, too, maize futures ended lower, tracking spot markets. The June maize contract closed at 1,895 rupees per 100 kg, down 0.3% from the previous close.

 

U.S. corn futures jumped more than 1.5% percent to a 12-month high as a forecast for heavy rains across a major North American growing region threatened to slow already delayed planting.

The most active corn futures on the Chicago Board of Trade were up 1.6% at $4.10-3/4 a bushel at 0041 GMT, near the session high of $4.12 a bushel – the highest since May 2018.