Most edible oils futures rise; NCDEX May mustard ends flat.

Futures contracts of most components of the edible oil basket rise barring the May contract of mustard on the National Commodities and Derivatives Exchange, which ended flat due to lack of cues. Contracts of soybean on the NCDEX closed over 1% higher due to shrinking supplies in physical markets because of the ongoing lean period. Arrivals in Madhya Pradesh, the largest grower in the country, were at 60,000 bags (1bag=100kg), down 10,000 bags from the previous close. In Maharashtra, arrivals unchanged at 50,000 bags. The fresh soybean crop would arrive in October as it is sown in June-July and harvested from October. In spot markets, prices of soybean fell due to weak demand for soymeal. In Jaipur, the benchmark market for the oilseed, prices were up 20 rupees from 19 April. Arrivals across the country were estimated at 490,000 bags (1bag=85kg) compared with 530,000 bags.