Mustard seed futures slip on weak spot cues

Mustard seed prices came down by Rs 27 to Rs 3,800 per quintal in futures trading today amid slashing of positions by speculators in line with weak physical markets.

Market players said reducing of holdings by speculators, tracking a weak trend at the physical markets on ample stocks following pick up in arrivals from growing belts amid muted demand from oil mills mainly weighed on mustard seed prices at futures market here.

At the National Commodity and Derivatives Exchange, mustard seed for delivery in November decreased by Rs 27 or 0.71 per cent to Rs 3,800 per quintal, with an open interest of 28,320 lots.

The October contracts too fell by Rs 25 or 3,714 per quintal, in an open interest of 32,190 lots.

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