Wheat futures trade lower by 1.26 pc on subdued demand

Image
Press Trust of India New Delhi
Last Updated : Sep 26 2016 | 12:07 PM IST
Wheat prices moved down by 1.26 per cent to Rs 1,729 per quintal in futures trade today as speculators trimmed positions amid tepid demand from flour mills in the spot market against adequate stocks position.
At the National Commodity and Derivatives Exchange, wheat for delivery in October month declined by Rs 22, or 1.26 per cent to Rs 1,729 per quintal with an open interest of 13,490 lots.
Likewise, the wheat for delivery in November contract was trading lower by Rs 20, or 1.13 per cent to Rs 1,743 per quintal in 980 lots.
Analysts attributed the fall in wheat futures to sluggish demand from flour mills in the spot market against ample stocks position.
The government reduced import duty on wheat to 10 per cent from 25 per cent.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

First Published: Sep 26 2016 | 12:07 PM IST

Next Story