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Our Bureau

Mumbai , Dec. 7

Maize futures on NCDEX witnessed a drop of 1.5 per cent to Rs 7,665 per quintal. Fresh arrivals of 1.52 to 1.6 lakh bags of maize from Karnataka and Maharashtra did not find many takers owing to the high moisture content of 16-17 per cent against the normal of 11-13 per cent.

Chilli futures on NCDEX gave in 1.9 per cent at Rs 6,170 per quintal. The benchmark December futures is expected to remain weak due to delays in the launch of the January contract on quality concerns. "The prices are expected to fall further as buyers liquidate positions before expiry of the contracts. Stay short and sell at higher levels," recommends a Kotak Commodity research report.

Chana loses

Chana lost 1.08 per cent at Rs 273 per quintal.Wheat futures on NCDEX gained 0.65 per cent at Rs 1,085 per quintal. Firm spot market advices improved sentiment and prompted millers and retailers to take fresh positions. Soyabean futures, which were trading weak till afternoon, gained 0.61 per cent at Rs 1,367 per quintal on short covering.

Urad increased 0.51 per cent to Rs 3,115 per quintal, while tur closed in the green at Rs 1,896 per quintal.

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Maize, chilli futures slip

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