Mustard seed futures move down on negative physical leads

Mustard seed prices receded by Rs 27 to Rs 4,139 per quintal in futures trade today with the narrowing of the holdings by traders in anticipation with subdued physical market sentiments.

Marketmen said, tracking lower physical market stance, traders shortened holdings, which pulled down the prices of mustard seed futures.

In the spot markets, slowdown in demand from oil mills amid bloated stocks positions on regular supplies from growing belts, kept the prices lower, they added.

At the National Commodity and Derivatives Exchange, mustard seed delivery for August looked down by Rs 27, or 0.65 per cent, to Rs 4,139 per quintal, showing an open interest of 90,000 lots.

In line with the general trend, the delivery for September shed Rs 27, or 0.64 per cent, to Rs 4,187 per quintal, in an open interest of 67,740 lots.