Mustard Jun Futures Closed With Little Change On Wednesday

Mustard Jun futures closed with little change on Wednesday supported by improvement in meal exports from the country during last month and short covering in the near month contract by market participants. The Open interest increase for the far month contract which indicates that, the positions are rolling over to next contract.

However, the arrivals have been reducing in the physical market. As per agmarknet data, the mustard arrival in first 7 days of June is down to 36,763 tonnes versus 76,759 tonnes in May for the same period. Mustard meal exports have increase 1275% in May this year at 42,488 tonnes compared to last year in May. Last year, India exports about 3,090 tonnes of meals in May.

As per third advance estimates, the production of most important rabi oilseed, rapeseed & mustard, is expected to increased by 12 lt to 79.8 lt compared to last year.

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