Rmseed settled up 0.25% at 3544 as a delay in monsoon supported the prices. Arrival of mustard in the country declined to 1.5 lakh bags (1.85 lakh bags last week) with Rajasthan leading with 75,000 bags, followed by Gujarat with 20,000, Punjab/Haryana - 17,000, UP - 15,000, MP - 13,000, while other mandis in the country recorded an arrival of 10,000 bags respectively.

On the domestic front, data from the Solvent Extractors' Association of India shows that the sowing area under mustard seed has increased to 71.38 lakh hectare for the 2013-14 crop year (October to September), up 5.8 per cent from the previous year. According to data from the US Department of Agriculture, the global production of mustard seed in 2014-15 is expected to drop by 3.4 per cent to 68.64 million tonnes from 71 million tonnes a year ago. The prospect for a record-high EU production also reflected good crop conditions in the EU's other leading rapeseed-producing countries,

Germany, Britain and Poland. Germany will harvest 5.90 million tonnes of winter rapeseed in 2014, up 2.2 percent on the year. In Britain, production was set to rebound from a four-year low of 2.1 million tonnes in 2013. In the Alwar spot market in Rajasthan the price gained 25.5 rupee to 3584 rupees per 20kgs. Technically market is under fresh buying as market has witnessed gain in open interest by 3.81% to settled at 89700 while prices up 9 rupee, now Rmseed is getting support at 3517 and below same could see a test of 3490 level, And resistance is now likely to be seen at 3562, a move above could see prices testing 3580.

Rmseed trading range for the day is 3490-3580.

Mustard seed prices rose as a delay in monsoon supported the prices.

Arrival of mustard in the country declined to 1.5 lakh bags (1.85 lakh bags last week) with Rajasthan leading with 75,000 bags.

NCDEX accredited warehouses mustard seed stocks dropped by 1177 tonnes to 81548 tonnes.

In the Alwar spot market in Rajasthan the price gained 25.5 rupee to 3584 rupees per 20kgs.

BUY RMSEED AUG @ 3520 SL 3490 TGT 3540 SL 3570 TGT 3505-3475.NCDEX