Mustard Seed On NCDEX Settled Down By -0.32% At 5000

Mustard Seed on NCDEX settled down by -0.32% at 5000 due to profit booking after prices gained amid good demand for crushing from industrial buyers. As per latest USDA report, global rapeseed production for 2016-17 is forecast at 66.5 mt, higher by 389,000 tons this month. Canada production is forecast at 16.4 mt, lower than 2015-16 at 17.2 mt. For Canada, production is forecast 900,000 tons higher. The better 2016- 17 crop outlook for Canada is partially offset this month by a reduction for the EU rapeseed crop, forecast down 600,000 tons to 21.2 mt. Seasonal demand for mustard oil, however, is expected to gather pace when demand from pickle manufacturers gains momentum. Mustard seed crush margins have also turned positive, supporting demand from processor

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