India corn futures lower on profit-taking

MUMBAI, July 14 (Reuters) - The most active Indian August corn futures were trading lower on Monday afternoon on profit-taking after gaining about 4 percent in the previous two sessions, analysts said.

The futures rose in the last two sessions after the trade ministry on Friday clarified rules on the July 3 export ban order, which may lead to some more exports, analysts said.

At 1:50 p.m, August futures NMZQ8 were down 0.51 percent at 969 rupees per 100 kg on the National Commodity & Derivatives Exchange (NCDEX).

Spot prices, however, rose by 9 rupees to 952 rupees per 100 kg in Nizamabad, a major trading centre.

BARLEY:

Indian barley futures were higher on good domestic demand, mainly from beer makers, analysts said.

Malted barley is used for making beer.

At 1:49 p.m, July futures NBLN8 were at 1,282 rupees per 100 kg, up 0.19 percent on NCDEX. (Reporting by Sourav Mishra; Editing by Harish Nambiar)