Mustard seed futures fall on weak spot cues

Mustard seed prices went down by Rs 21 to Rs 4,091 per quintal in futures trade today amidst offloading of positions by participants, taking muted cues from the physical markets.
At the National Commodity and Derivatives Exchange, mustard seed for delivery in December slipped Rs 21, or 0.52 per cent, to Rs 4,091 per quintal, having an open interest of 20,310 lots.
The contracts for delivery in January also eased by Rs 12, or 0.29 per cent, to Rs 4,072 per quintal, clocking an open interest of 28,820 lots.
Marketmen attributed the fall in mustardseed prices at futures market to cutting down of holdings by operators, triggered by a weak trend at the spot markets on ample stocks against withdrawal of support by oil mills.