NCDEX mustard up on procurement report, soybean cues

Futures contracts of mustard seed rose as reports of government procurement of the rabi oilseed improved market sentiment. NAFED was likely to procure around 500,000 tn of new mustard crop in Rajasthan. Gains in soybean contracts are also seen supporting mustard prices. Soybean and mustard contracts take cues from each other as these are used as substitutes.