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Mustard Seed settled flat on hope of higher supply in global market. There is expectation of higher kharif oilseed output along with hopes of rise in rabi acreage in Indian. Further, Canada is likely to produce 2.5 million tons mustard seed in 2016-17 (Aug-Jul) compared to 1.23 million tons a year ago. The rise in production could be attributed to larger acreage under the oilseed at 212,460 hectare from 140,000 hectare a year ago. Driven by higher yield of mustard seed, India’s oilseed production is seen higher by about 7 lakh tonnes (lt) for the year 2015-16 rabi season, according to the industry estimates. The COOIT has pegged the overall rabi oilseed crop for 2015-16 at 77.41 lt – about 7.47 lt higher from the previous year’s 69.94 lt.
                              Canadian canola processors are running at close to full capacity, with a near record weekly crush posted during the week ended September 21. At Bhind market in Madhya Pradesh, total arrivals are at 500 quintals, steady as against previous day’s arrival. At Jaipur market , sources reported arrivals at 50000 Bags, higher by 25000 Bags from previous trading day. 

                                 Trading Ideas  

• Rmseed trading range for the day is 4432-4566.
• Further, Canada is likely to produce 2.5 million tons mustard seed in 2016-17 (Aug-Jul) compared to 1.23 million tons a year ago.
• NCDEX accredited warehouses mustard seed stocks dropped by 372 tonnes to 12707 tonnes.
• In Alwar spot market in Rajasthan the prices dropped -77.25 rupees to end at 4694.5 rupees per 100 kg.