Wheat, other grains weaken on low demand

Weak conditions prevailed at the wholesale grains market today with prices of wheat and a few other bold grains drifting by up to Rs 30 per quintal due to reduced offtake against adequate stocks position.

Traders said fall in demand from flour mills against sufficient stocks position led to the decline in wheat prices.

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Reduced offtake by consuming industries too attributed fall in a few other bold grains prices, they said.

In the national capital, wheat dara (for mills) shed Rs 5 at Rs 1,700-1,705 per quintal. Atta chakki delivery followed suit and eased to Rs 1,705-1,710 per 90 kg.

Atta flour mills, maida and sooji also slipped to Rs 865-875,Rs 950-960 and Rs 1,020-1,030 against last close of Rs 900-910, Rs 980-990 and Rs 1,030-1,040 Rs per 50 kg respectively on easing demand.

Other bold grains like, maize and barley also ended lower at Rs 1,690-1,700 and Rs 1,350-1,360 from previus levels of Rs 1,720-1,725 and Rs 1,370-1,380 per quintal respectively.