Mustard Seed on NCDEX settled up by 0.05% at 3846 on buying at lower level and on higher demand for meal. Prices of the mustard also supported by higher demand for meal after data published by SEA of India showed that Rapeseed meal exports from India jumped by 13.61% to 2,261 tons in January compared to 1,990 tons a year ago. Sowing of mustard has ended, with acreage of the key oilseed rising 9.3% on year to 7.06 mln ha this rabi season, data released by the agriculture ministry showed. The acreage under the oilseed has increased on year because of favourable weather conditions and adequate soil moisture, following good southwest monsoon rains. Rains in the last week in north India, including Rajasthan, have helped the crop in grain formation stage which will improve the yield. In Rajasthan, India's largest producer of mustard, the acreage was at 2.8 mln ha, up 10% from a year ago, the data showed. If the current weather condition continues until harvest, estimates India's 2016-17 mustard crop to be in the range of 7.0-7.2 mln tn. The government has set an output target of 8.5 mln tn for mustard seed this rabi season, sharply higher than last year's production of 6.8 mln tn. After a drop in output over the past two years, production of mustard is seen rebounding this year on the back of higher rabi acreage. In Alwar spot market in Rajasthan the prices remains unchanged at0 Rupees to end at 4102.25 Rupees per
100 kg. Technically now Rmseed is getting support at 3833 and below same could see a test of 3821 level, And resistance is now likely to be seen at 3857, a move above could see prices testing 3869.

Trading Ideas:

# Rmseed trading range for the day is 3821-3869.

# Mustard seed prices seen supported on buying at lower level and on higher demand for meal.

# Data by SEA of India showed that Rapeseed meal exports from India jumped by 13.61% to 2,261 tons in January

# Sowing of mustard has ended, with acreage of the key oilseed rising 9.3% on year to 7.06 mln ha this rabi season.

# In Alwar spot market in Rajasthan the prices remains unchanged at0 Rupees to end at 4102.25 Rupees per 100 kg.