Prices of maize remained steady across key spot markets as bulk demand weakened and arrivals declined.

Demand remained subdued as bulk buyers reduced their purchases at elevated prices.

In Nizamabad, maize was sold at 2,430-2,450 rupees per 100 kg, unchanged.

Maize futures on NCDEX were lower due to an anticipated decline in demand from bulk purchasers at high prices. The most active August contract was at 2,141 rupees per 100 kg, down 0.7%.

Corn futures settled Friday with most nearby contracts 6 to 7 1/4 cents higher. Bargain buying helped to get back most of Thursday’s losses.

US corn exports during June were reported at 3.069 MMT (120.82 mbu) by Census this morning, which was the lowest June total since 2013. That was down 24.56% from May and a drop of 57.27% from last year’s record for June.

June’s product exports included DDG shipments at 962,592 MT and ethanol exports at 128.42 million gallons (which was the second largest for June behind last year).

The Commitment of Traders report showed managed money spec funds exiting their big long position in corn futures and options as of Tuesday.

They reduced it by another 41,264 contracts in the week ending July 30, taking the net position to 111,952 contracts.