The Indian state trading company MMTC for the seventh time has postponed the deadline for submitting applications for an international tender for the import of yellow corn, this time until June 27, European traders reported on Wednesday, June 26.

The deadline for a tender for corn without genetically modified organisms (GMOs) was first set for May 8 and has since been often delayed.

MMTC will determine the purchase volume depending on the level of prices offered. Offers must remain valid until July 11th. MMTC is requesting corn offers for shipping in July and August.

“It seems that Asian importers, including India, are hoping that corn prices will continue to roll back from the highs seen in June,” said one European trader.

Since the announcement of a tender in April by MMTC, corn futures on the Chicago Mercantile Exchange have risen sharply, reaching a five-year high on June 17 amid fears that rain would damage the US crop.

But after dry weather forecasts in parts of the Midwestern United States that inspire hope for a better crop, corn fell in price on Wednesday, June 26.

Previously, India was a leading exporter of corn to the countries of Southeast Asia. But it became an importer due to reduced production and increased demand from poultry and corn starch producers.