Last Updated : March 19, 2010 15:45
Mustard seed futures trade in thin range
The mustard seed futures traded in a thin range with upward bias.
The weak trend in soy complex market weighed on the prices during mid of the day, but, the strong fundamental factors limited the fall and pushed up the price to end the day on a positive note.
Lower production projection for the current year also had a positive impact on the market.
The most active April contract RM seed futures traded in the range of 485.05-490.75 levels and settled at 486.30 levels.
Outlook
The mustard seed futures are projected to trade on a positive note during the day on account of bargain buying in the futures market and taking cues from firm spot market sentiment.
The spot mustard seed is trading at Rs.495-500 per 20 kg due to lesser arrivals to the spot markets. The SEA rapeseed-mustard crop survey team has estimated India’s mustard seed crop at 59.20 lakh tonnes against 62 lakh tonnes produced last year.
The open interest increased by 7.69% to 88630 tonnes from 82300 tonnes while volume fell by 15.51% to 84140 tonnes from 99590 tonnes.
Courtesy: Kedia Commodities Get a bigger political picture to help you invest
MCX Tin 30 April 2012
contract was trading at
Rs 1077.75 . What's your view on it?
