Rmseed on NCDEX settled down -0.15% at 3890 on late profit booking after prices seen supported as government started procurement at Rs 3,700 per quintal in the spot market. As per market sources nearly 1200 tons have been purchased so far. With recent fall in prices mustard seed crush margins have turned positive thus demand from processors also expected to gather momentum which further kept rm seed prices up. Further arrivals are lower than expected due to resistance in farmer selling. Good weather and increase in minimum support prices (MSP), which attracted farmers to plant higher mustard, resulted into record crop of over 71.09 lakh tonnes, says industry body Solvent Extractors Association.

Trading Ideas: 

* Rmseed trading range for the day is 3853-3945. 

* Mustard seed dropped on late profit booking after prices seen supported as government started procurement at Rs 3,700 per quintal in the spot market. 

* Further arrivals are lower than expected due to resistance in farmer selling 

* NCDEX accredited warehouses mustard seed stocks gained by 1687 tonnes to 12718 tonnes. 

* In Alwar spot market in Rajasthan the prices gained 12.9 Rupees to end at 3831.9 Rupees per 100 kg.

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