India Maize down in spot markets on low demand.

Wholesale prices of maize fell in the key market of Purnea, Bihar, due to poor demand after severe rains recently. The mill-quality maize was sold at around down 40 rupees from previous close. Heavy rains recently have hit the harvested crop lying in the fields and led to higher moisture content in the grain, thus reducing demand. Prices of the grain to fall further due to a likely bumper crop along with subdued demand.