Wheat recovers on buying by mills, output concerns

Wheat prices recovered by Rs 20 per quintal in an otherwise steady wholesale grains market today on buying by stockists and flour mills amid reports that output may fall this year due to unseasonal rains.
However, activity in rice and other grains remained restricted on scattered support and ended flat.
Traders attributed the recovery in wheat prices to pick-up in demand from flour mills and reports that India's wheat production this year may get affected due to unseasonal rains.
India's wheat production is expected to decline by up to two per cent in the current crop year from the previous record of 95.85 million tonnes achieved in 2013-14 due to unseasonal rains, a government research body said yesterday.

In the national capital, wheat dara (for mills) gained Rs 20 to trade at Rs 1,675-1,680 per quintal. Atta chakki delivery followed suit and traded higher by a similar margin to Rs 1,690-1,695 per 90 kg bag.
Following are today's quotations (in Rs per quintal):
Wheat MP (deshi) 2,270-2,670, Wheat dara (for mills) 1,675-1,680, Chakki atta (delivery) 1,690-1,695, Atta Rajdhani (10 kg) 220, Shakti Bhog (10 kg) 220, Roller flour mill 845-855 (50 kg), Maida 935-945 (50 kg) and Sooji 1,040-1,050 (50 kg).
Basmati rice (Lal Quila) 10,400, Shri Lal Mahal 10,000, Super Basmati Rice 9,500, Basmati common new 5,600-6,100, Rice Pusa (1121) 4,600-5,700, Permal raw 1,700-1,775, Permal wand 1,850-1,900, Sela 2,350-2,400 and Rice IR-8 1,575-1,600, Bajra 1,190-1,195, Jowar yellow 1,490-1,500, white 2,550-2,650, Maize 1,610-1,615, Barley 1,575-1,580.