Maize prices rose marginally across key spot markets due to a pick-up in purchases. However, higher arrivals in Uttar Pradesh capped the rise in prices.

The maize crop sown in Uttar Pradesh during the rabi season usually arrives in early June, which is now in full swing. Maize prices, however, will rise in the coming days once the supply from Uttar Pradesh shrinks.

Maize futures on NCDEX rose sharply due to an anticipated supply shortage in the coming days. The most active July contract was rose nearly 3% to 1,920 rupees per 100 kg.

Soybean futures posted 15 to 16 1/4 cent gains in most contracts. Rains and forecasts for more moisture along the Corn Belt this week were supportive. Soymeal was up 80 cents/ton, with bean oil 53 points higher. USDA reported 77% of the US soybean crop in the ground as of Sunday, vs the average at 93%.

The crop was 55% emerged, with the normal pace at 84%. NASS will release initial crop ratings next Monday. The weekly Export Inspections report indicated that 675,302 MT of soybeans were shipped in the week of 6/13, with 274,918 MT headed to China.

Total exports were down 8% from last week and 17.76% lower than the same week in 2018. The monthly NOPA crush report showed that 154.796 mbu of soybeans were crushed by its members in May, down 5.37% from last year and well below estimates. Soy oil stocks at the end of May were down 11.5% mo/mo at 1.581 billion lbs.