Wheat futures remain weak, shed 1.12 pc on increased supply

Wheat prices dropped further by 1.12 per cent to Rs 1,860 per quintal in futures trade today as speculators engaged in trimming their positions, triggered by ample stocks position at the spot market against subdued demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in January fell by Rs 21, or 1.12 per cent to Rs 1,860 per quintal with an open interest of 1,900 lots.
Analysts said offloading of positions by traders amid sufficient stocks position in the physical market against easing demand from flour mills, mainly kept wheat prices down at futures trade.