Mustardseed yesterday traded with the negative node and settled -2.17% down at 551.3 on a likely rise in acreage due to higher prices and bountiful monsoon rains. The total arrivals of mustard seed decreased by 9000 bags to 55000 bags in major mandies. In the Jaipur spot market in Rajasthan the price edged down by -2.85 rupee to 568.95 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 551 after opening at 562.9, and finally settled at 551.3. For today's session market is looking to take support at 547.2, a break below could see a test of 543.2 and where as resistance is now likely to be seen at 559.1, a move above could see prices testing 567.

Trading Ideas:

Mustard Seed trading range is 543.2-567.

Mustardseed ended lower on a likely rise in acreage

Mustardseed looks to take support at 547.20 and resistance at 554.80.

NCDEX accredited warehouses mustard seed stocks fell 1063 tonnes to 112939 tonnes.

In the Jaipur spot market in Rajasthan the price edged down by -2.85 rupee to 568.95 rupees per 20 kgs.