Wheat declines 0.85% on reduced offtake

Reduced offtake by flour mills influenced wheat trade

Wheat futures for February declined by Rs 13, or 0.85% to Rs 1516 per quintal in 9,660 lots at the National Commodity and Derivatives Exchange today.

The January contract shed Rs 6, or 0.39% to Rs 1,525 per quintal in 4,060 lots.

Analysts said adequate supplies, reduced offtake by flour mills influenced wheat futures trade.