Wheat prices slipped by 0.55 per cent to Rs 1,980 per quintal in futures trade today as speculators cut down holdings, triggered by higher supplies in the spot market against low demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in September fell by Rs 11, or 0.55 per cent, to Rs 1,980 per quintal with an open interest of 2,050 lots.
Similarly, the wheat for delivery in August contracts shed Rs 5, or 0.25 per cent, to Rs 1,967 per quintal in 5,560 lots.
Market analysts said offloading of positions by traders on the back of sufficient stocks position on increased supplies from producing belts in the physical markets against easing demand, weighed on wheat prices in futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
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