The futures price of maize fell during Wednesday's trading at the Dalian Commodities Exchange in northeast China's Liaoning Province after riding high for two days.

The price finally closed at 1,448 yuan (US$181) per ton, down 72 yuan (US$9) from the previous day's trading.

Just over one million deals exchanged hands, down 97,772 from the day before.

The futures price of maize had climbed since the exchange opened trading after the Spring Festival holiday, China's Lunar New Year.

Industry insiders said that the price drop would not halt the strong upward momentum of the maize price.

China now has three futures exchanges in Dalian, Shanghai and Zhengzhou that trade maize, soybean, soybean oil, bean dregs, copper, aluminum, natural rubber, fuel oil, cotton, wheat and sugar.

(Xinhua News Agency February 9, 2006)