Mustard seed prices up in Jaipur as supply declines.

Prices of mustard seed in Jaipur extended previous close gains due to shrinking supply of the oilseed coupled with a pick-up in demand from Stuckists. Seasonal demand for mustard oil also supported mustard seed prices. Arrivals have declined because farmers are holding on to their produce on expectations of a rise in prices in the coming days.

CBOT soybean futures gain tracking Malaysia CPO.

Futures contracts of soybean traded higher on the CBOT tracking key crude palm oil contracts on Bursa Malaysia Derivatives. Prices of soybean and crude palm oil usually move in tandem as they are used in the production of bio-diesel. Poor condition of the soybean crop in the US, the world largest grower, due to dry weather also boosted prices on the Chicago bourse. The August soybean contract on CBOT traded at $9.9650 per bushel, up 0.8% from the previous close.

Soy up in Indore as heavy rainfall hits arrivals.

Prices of soybean at spot markets in Indore rose by around 25 rupees as heavy rainfall hit arrivals. IMD has advised farmers in the state to re-sow the oilseed in some patches as erratic weather in the state has affected proper growth. Soybean contracts on NCDEX were also up tracking gains in the spot market. The most active August contract traded up 0.6% from the previous close.