Mustard seed futures up on short-covering

Mustard seed prices recovered by Rs 12 to Rs 3,663 per quintal in futures trade today largely on the back of covering-up of short positions at lower levels amid a firm trend at the physical markets.
Market players said besides covering-up of short positions by speculators at current levels, a better trend at the domestic spot markets on increased demand from oil mills amid tight supplies, mainly attributed the recovery in mustard seed prices in futures trade here.
At the National Commodity and Derivative Exchange, mustard seed for delivery in July was trading higher by Rs 12 or 0.33 per cent to Rs 3,663 per quintal, clocking an open interest of 5,780 lots.

Mustard seed for the most traded, delivery in August, also rose by Rs 10 or 0.27 per cent to Rs 3,686 per quintal, having an open interest of 60,110 lots.