Ample stocks drag down wheat futures by 1.03%

Image
Press Trust of India New Delhi
Last Updated : Apr 17 2017 | 5:22 PM IST
Wheat prices moved down by 1.03 per cent to Rs 1,640 per quintal in futures market today as speculators trimmed their positions, triggered by ample stocks position on increased supplies from growing regions at spot markets.
At the National Commodity and Derivatives Exchange, wheat for delivery in May fell by Rs 17, or 1.03 per cent, to Rs 1,640 per quintal, with an open interest of 11,230 lots.
However, wheat for delivery in April held steady at Rs 1,625 per quintal in 450 lots.
Analysts said trimming of positions by traders amid sufficient stocks position due to increased arrivals from producing regions in the physical market, mainly led to the fall in wheat prices at futures trade.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 17 2017 | 5:22 PM IST

Next Story