Mustard seed futures decline on weak spot cues

Mustard seed prices drifted lower by Rs 15 to Rs 3,954 per quintal in futures trading today after participants offloaded their positions amid a weak trend at the physical markets.

Marketmen said trimming of positions due to a significant drop in demand from oils mills and relentless supplies from producing belts in spot markets, mainly dragged down mustard seed prices in futures trade here.

At the National Commodity and Derivative Exchange, mustard seed for most-traded delivery in December receded by Rs 15 or 0.38 per cent to Rs 3,954 per quintal, in an open interest of 35,590 lots.

Mustard seed for delivery in current month also eased by Rs 14 or 0.35 per cent to Rs 3,955 per quintal, open interest depicted of 9,110 lots.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)