India corn futures opened weak as overseas and internal demand continued to slow, analysts said.
At 10.54 a.m., benchmark January corn NMZF9 was down 0.13 percent at 798 rupees per 100 kg.
Waning export demand coupled with falling local consumption after a bird flu outbreak in West Bengal is weighing on prices, analysts said. Corn is primarily used as poultry feed.
However, rising prices of soybean, a substitute commodity, may bring in some relief for corn in the near-term, they added.
Source : Reuters India