Mustard seed futures up on positive spot cues

Mustard seed futures traded higher by Rs 16 to Rs 3,752 per quintal in futures trading today after participants raised their bets in sync with a firm trend at the spot markets on rising demand.
At the National Commodity and Derivative Exchange, mustard seed for delivery in September contracts advanced by Rs 16 or 0.43 per cent to Rs 3,752 per quintal, in an open interest of 34,410 lots.
Similarly, the most-active to be delivered this month contracts edged up by Rs 14 or 0.38 per cent to Rs 3,714 per quintal, open interest stood at 39,320 lots.
Market players said strong demand at the spot markets from oil mills amid tight supplies from producing belts mainly influenced mustard seed futures prices.