Wheat futures fell by 0.83% to Rs 1,241 per quintal today as speculators indulged in reducing their positions, triggered by increased arrivals in the spot markets.
At the National Commodity and Derivatives Exchange, wheat for delivery in July fell by Rs 10.40, or 0.83% to Rs 1,241 per quintal, with an open interest of 5,700 lots.
Similarly, wheat for delivery in June traded lower by Rs 9, or 0.73% to Rs 1,221 per quintal, with a business turnover of 16,160 lots.
Wheat prices for delivery in May fell by Rs 6.20, or 0.51% to Rs 1,203 per quintal, with an open interest of 25,070 lots.
Analysts attributed the fall in wheat futures prices to rising arrivals of new crop in the spot markets.
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