Mumbai, Aug 07 - Domestic maize futures stayed pressed in early trade on National Commodity and Derivatives Exchange [NCDEX] Wednesday on increased incidence of speculative selling alongside profit booking. Barley September posted minor gains but other contracts failed to register fresh trade. In a separate development, China, a leading corn growing nation in Asia, is tipped to think about slashing net corn exports to 1.5-million metric tonnes in the 2007/08 crop year, a government think tank said Wednesday. This would be 3.48-million tonnes lower than its net corn export forecast in 2006/07, according to a report issued by China National Grain and Oils Information Center. The center also cut its total corn consumption forecast for 2006/07 by one-million tonnes to 145-million tonnes.

Most-active September maize futures contract declined Rs. five to Rs. 738.00 per quintal with volume at 320 tonnes as on 10.45 hrs IST on NCDEX. August futures traded -Rs. 0.50 at Rs. 757.00 per quintal with a low volume of 50 tonnes, whereas October contract fell Rs. 5.50 to Rs. 694.00 per quintal with volume at 30 tonnes.

In contrast, barley futures advanced from previous close in thin trading conditions. Benchmark September contract made slight progress while moving to Rs. 872.00 per quintal, up Rs. 0.80 or 0.09%. The August and October contracts were yet to register any trade.