April 13, 2009
Profit-taking to lower India corn futures
India corn futures are seen lower on Monday (April 13) on profit-taking after rising over 2 percent in the previous trading session, analysts said.
Arrivals of the winter crop may also weigh on the futures, analysts said.
Improved export prospects in the past few days have supported corn futures.
Trade estimates the exports at 800,000 tonnes in the corn marketing year ending September, up from previous estimates in the range between 250,000 tonnes and 400,000 tonnes.
The most-active May contract NMZK9 on the National Commodity and Derivatives Exchange last ended at 889 rupees per 100 kg, up 2.4 percent.
