Mustard seed futures fall on weak spot cues

Mustard seed prices moved down by Rs 14 to Rs 3,872 per quintal in futures trade on Friday as traders reduced their holdings coupled with a weak trend at the spot market. At the National Commodity and Derivatives Exchange, mustard seed for delivery in September fell by Rs 14, or 0.36 per cent, to Rs 3,872 per quintal clocking an open interest of 31,070 lots.

Also, mustard seed for delivery in October was down by Rs 24, or 0.60 per cent, to Rs 3,943 per quintal, in an open interest of 60,810 lots. Marketmen said offloading of positions by participants following a weak trend at the spot market due to easing demand led to the fall in mustard seed prices at futures trade.