Maize On NCDEX Settled Down By -0.92% At 1515

Maize on NCDEX settled down by -0.92% at 1515 after the U.S. Department of Agriculture pegged the condition of the U.S. crop at above market expectations. USDA rated 76 percent of the corn crop as good to excellent, unchanged from a week earlier. India has asked a government-backed trader to import an extra half a million tonnes of duty-free, non-genetically modified corn to keep a lid on domestic prices and overcome any shortage, the trade ministry said. India, which allows cultivation and consumption of only genetically modified cotton crop, has had difficulty in sourcing non-GM corn in late 2015 and earlier this year, and New Delhi had to drop the plan to import more. Trade and industry experts have already voiced their concerns over India's ability to find non-GM corn, which only a handful of countries such as Ukraine grow.

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