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Ample stocks drag down wheat futures by 0.48%

Press Trust of India  |  New Delhi 

Wheat prices fell 0.48 per cent to Rs 1,651 per quintal in futures trade today as speculators cut down their positions, triggered by ample stocks on increased supplies from growing regions at spot markets.

At the National Commodity and Derivatives Exchange, wheat for delivery in July declined by Rs 8, or 0.48 per cent to Rs 1,651 per quintal with an open interest of 4,720 lots.

Likewise, the wheat for delivery in June contracts traded lower by Rs 7, or 0.43 per cent to Rs 1,624 per quintal in 20,250 lots.

Analysts said offloading of positions by traders, triggered by sufficient stocks positions on increased arrivals from producing belts in the physical market mainly attributed the fall in wheat prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 19 2017. 12:07 IST