Advantage India as dry weather leads to spurt in global wheat, maize prices
The spot prices of maize were up by noon on Wednesday. It was quoting at Rs 1,335 a quintal, a gain of Rs 7.
Domestic and export demand pulled up prices for the commodity.
In the domestic market, demand from starch makers and, particularly, the poultry feed sector applied pressure on prices.
With soyameal prices rallying along with soya oil and soyabean, the poultry feed sector was in the market seeking alternatives for poultry feed.
Globally, the grain complex was rallying on fears the drought in the US would affect the corn and wheat crop there.
Indian corn saw good export demand from both Indonesia and Vietnam.
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