Profit-booking drags down wheat futures 0.26 pc

Wheat prices drifted lower by 0.26 per cent to Rs 1,932 per quintal in futures trade today as speculators booked profits after recent gains, triggered by ample stocks at spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in February declined Rs 5, or 0.26 per cent to Rs 1,932 per quintal with an open interest of 3,360 lots.
Analysts said besides profit-booking by traders, easing demand in the spot market against adequate stocks position, mainly led to the decline in wheat prices at futures trade.