Wheat remains weak on higher supply

Wheat prices dropped by Rs 50 per quintal at the wholesale grains market today on adequate stocks position following pick up in arrivals of new crop in the markets from from producing belts against reduced offtake by flour mills.
Barley also eased on lack of buying support from consuming industries.
Traders said adequate stocks position in the market on higher arrivals from producing belts mainly kept pressure on wheat prices.
Meanwhile, government provided relief to farmers affected by recent heavy rains and hailstorm by further relaxing quality norms for the procurement of wheat in Haryana, Rajasthan, Madhya Pradesh and Uttar Pradesh.

In the national capital, wheat MP deshi and wheat dara (for mills) moved down by Rs 50 each to Rs 2,180-2,560 and Rs 1,500-1,505 per quintal respectively. Atta chakki delivery followed suit and eased by a similar margin to Rs 1,515-1,520 per 90 kg.
Barley lost another Rs 100 to Rs 1,100-1,105 per quintal.

Following are today's quotations (in Rs per quintal):
Wheat MP (desi) 2,180-2,560, Wheat dara (for mills) 1,500-1,505, Chakki atta (delivery) 1,515-1,520, Atta Rajdhani (10 kg) 220, Shakti Bhog (10 kg) 220, Roller flour mill 830-840 (50 kg), Maida 870-880 (50 kg) and Sooji 980-1,000 (50 kg).

Basmati rice (Lal Quila) 10,400, Shri Lal Mahal 10,000, Super Basmati Rice 9,500, Basmati common new 5,900-6,100, Rice Pusa (1121) 4,750-6,000, 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 1,200-1,205, Jowar yellow 1,490-1,500, white 2,550-2,650, Maize 1,500-1,505, Barley 1,100-1,105.