Mustardseed yesterday traded with the positive node and settled 0.36% up at 3608 as physical demand improved in a year when the local rapeseed crop is expected to be lower. India's rapeseed output is expected to fall 8.5 percent to 6.3 million tonnes in 2012 on lower acreage of the oilseed crop, a trade body survey showed last week. India's oilmeal exports fell 33 percent to 470,504 tonnes in February compared to a year ago dragged down by a ban on the country's oilmeal imports by China. The total arrivals of mustard seed decreased by 35000 bags at 4.35 lakh bags in major mandies. In the Sri Ganganagar spot market in Rajasthan the price edged up by 26.25 rupee to 3431.25 rupees per 20 kgs. In yesterday's trading session Mustardseed has touched the low of 3562 after opening at 3590, and finally settled at 3608. For today's session market is looking to take support at 3567.7, a break below could see a test of 3527.3 and where as resistance is now likely to be seen at 3642.7, a move above could see prices testing 3677.3.

Trading Ideas:

RM Seed  trading range for the day is 3527-3677.

Mustard seed moved higher as physical demand improved in a year

India's rapeseed output is expected to fall 8.5 percent to 6.3 million tonnes in 2012 on lower acreage

The total arrivals of mustard seed decreased by 35000 bags at 4.35 lakh bags in major mandies.

In the Alwar spot market in Rajasthan the price edged up by 26.25 rupee to 3431.25 rupees per 20 kgs.