Wheat futures down 0.29 pc on higher supply

Wheat prices eased further by 0.29 per cent to Rs 1,748 per quintal in futures market today as traders engaged in trimming positions, triggered by adequate stocks position on increased supplies from producing regions at spot market against tepid demand from flour mills.
At the National Commodity and Derivatives Exchange, wheat for delivery in October declined by Rs 5, or 0.29 per cent to Rs 1,748 per quintal with an open interest of 6,920 lots.
Analysts said trimming of positions by participants on the back of ample stocks position on higher supplies regions in the physical market against subdued demand from flour mills kept wheat prices lower at futures trade.