Wheat futures extend loss, down 1.07% on ample stocks

Wheat prices fell further by 1.07 per cent to Rs 1,752 per quintal in the futures trade today as speculators engaged in reducing positions, triggered by adequate stocks position on increased supplies from producing regions at the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in January next year fell by Rs 19, or 1.07 per cent to Rs 1,752 per quintal with an open interest of 180 lots.
On similar lines, the wheat for delivery in December shed Rs 4, or 0.23 per cent to Rs 1,723 per quintal in 10,830 lots.
Analysts said cutting down of positions by traders amid sufficient stock position on increased arrivals from producing belts at the physical market against muted demand mainly kept pressure on wheat prices at futures trade.