Wheat futures extend losses, down 0.39% on higher supply

Wheat for delivery in January shed 0.10% to Rs 2,070 per quintal in 2,690 lots

Continuing its falling streak for third day, wheat prices moved down by 0.39% to Rs 2,036 per quintal in futures market today as traders indulged in reducing positions, triggered by sufficient stocks position following increased supplies at spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in December fell by Rs 8, or 0.39% to Rs 2,036 per quintal with an open interest of 10,030 lots.

Likewise, wheat for delivery in January shed Rs 2, or 0.10% to Rs 2,070 per quintal in 2,690 lots.

Analysts said, trimming of positions by participants, triggered by ample stocks position on increased supplies in the physical market against subdued demand, kept wheat prices down at futures trade.