India soybean settles higher, in line with CBOT.

On National Commodity and Derivatives Exchange, the most-active June contract of soybean closed 0.5% higher, tracking gains on Chicago Board of Trade. Soybean prices on the US bourse rose due to bargain buying, and as a truckers’ strike in Brazil. Mustard futures on NCDEX closed 1.3% higher due to improved purchases by oil millers at lower prices. Refined soyoil on NCDEX and crude palm oil on MCX traded lower due to lukewarm demand in spot markets.

Mustard seed up in Jaipur on demand from stockists

Prices of mustard seed rose in Jaipur owing to renewed demand from domestic stockists and oil millers after prices hit a one-week low. A fall in arrivals also supported prices. Arrivals in Rajasthan were estimated at 110,000 bags (1 bag = 85 kg) today, compared with 140,000 bags. However, weak export demand for mustard meal capped gains. On NCDEX, the most-active June contract was at 3,923 rupees per 100 kg, up 0.4%.