Wheat futures down on thin trade

In range-bound trading, wheat futures prices eased marginally by Rs 1.20, or 0.10 per cent, to Rs 1,237.20 per 100 kg today due to a bumper harvest and government's plan not to impose import duty on the grain.

At the National Commodity and Derivatives Exchange counter, wheat for delivery in August contract fell by Rs 1.20, or 0.10 per cent, to Rs 1,237.20 per 100 kg, with an open interest of 23,460 lots. It ended 0.19 per cent down at Rs 1,238.40 per 100 kg in the previous session.

Similarly, the delivery of September contract drifted by Re 1, or 0.08 per cent, to Rs 1,256 per 100 kg, with an open interest of 18,230 lots. It ended down 0.61 per cent at Rs 1,231.20 per 100 kg in yesterday's trade.
    
Analysts attributed fall in wheat futures prices to increased stocks in the spot markets amid bumper harvest and the government's plan not to impose duty on wheat imports as of now.