Mustard seed futures fall as participants trim bets

Mustard seed prices went down by Rs 32 to Rs 3,563 per quintal in futures trade today after traders cut down their positions, triggered by a weak trend at the physical market.
At the National Commodity and Derivative Exchange, mustard seed for delivery in July softened by Rs 32, or 0.89 per cent, to Rs 3,563 per quintal, having an open interest of 71,100 lots.
On similar lines, mustard seed for delivery in far-month August slipped by Rs 31, or 0.85 per cent, to Rs 3,609 per quintal in an open interest of 19,920 lots.
Marketmen attributed the fall in mustardseed prices in futures trading to reduction of positions by participants, sparked by a sluggish trend at the spot markets on constant supplies from producing areas amid reduced offtake by oil mills.