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Wheat futures soften by 0.37% on ample stocks

Press Trust of India  |  New Delhi 

Wheat prices eased by 0.37 per cent to Rs 1,637 per quintal in futures trade today as speculators trimmed positions, triggered by adequate stocks positions at spot markets.

At the National Commodity and Derivatives Exchange, wheat for delivery in July declined by Rs 6, or 0.37 per cent to Rs 1,637 per quintal with an open interest of 5,750 lots.

Likewise, the wheat for delivery in August contracts shed Rs 5, or 0.30 per cent to Rs 1,659 per quintal in 21,050 lots.

Analysts said offloading of positions by traders amid ample stocks position on increased supplies from producing belts in the physical market mainly led to decline 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: Tue, July 11 2017. 12:07 IST