Mustard seed futures slide on spot sentiments

Mustard seed prices receded by Rs 7 to Rs 3,994 per quintal in futures trade today on the trimming of holdings by the operators in sync with weak physical markets sentiments.

Market players mentioned the dip in mustard seed futures prices to ample stocks on consistent arrivals from growing belts amid muted demand for oil mills in the spot markets.

In addition to such, the fall in offtake of mustard seed cake by cattle feed stockists, too, dampened the trading sentiments, they quoted.

At the National Commodity and Derivatives Exchange counter, mustard seed delivery for the most traded contract June declined by Rs 7 or 0.17 per cent to Rs 3,994 per quintal, having business turnover of 1,04,350 open lots.

In line with the general trend, the delivery of the second contract July eased by Rs 6 or 0.15 per cent to Rs 4,034 per quintal, open interest stood of 56,970 lots.