India's corn futures rose on Friday on some export activity and a likely drop in acreage, which may curtail supply, analysts said.
Traders said Indian exporters were actively selling corn cargoes priced around $25 to $30 cheaper than rival South American corn. See [nSP449676]
"India has been very active in past few weeks, but soon the supplies will dry up," said one Singapore-based trader.
Traders and analysts expect corn to lose area to soybean, turmeric and sugarcane in the upcoming sowing season, as these crops are likely to provide better returns.
Most-active June corn contract NMZM9 on the National Commodity and Derivatives Exchange ended in thin trade at 901 rupees per 100 kg, up 0.67 percent.
Source : REUTERS