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Ample stocks drag wheat futures down by 0.78%

Press Trust of India  |  New Delhi 

Wheat prices were lower by 0.78 per cent to Rs 1,654 per quintal in futures trade today as speculators reduced their exposure amid sufficient stock position at the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in September fell by Rs 13, or 0.78 per cent, to Rs 1,654 per quintal with an open interest of 9,230 lots.


Likewise, the wheat for delivery in August contracts traded lower by Rs 12, or 0.73 per cent, to Rs 1,633 per quintal in 12,930 lots.

Analysts said trimming of positions by traders, triggered by sufficient stockists position on increased supplies in the physical market against lower demand from flour mills, mainly influenced wheat prices at futures trade.

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

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