Wheat down in futures trade on profit-booking

Wheat prices fell by 0.31% to Rs 1,290 per quintal today as speculators booked profits amid favourable weather conditions in producing regions.

At the National Commodity and Derivatives Exchange, May wheat fell by Rs 4, or 0.31%, to Rs 1,290 per quintal, with an open interest of 1,290 lots.

The March delivery fell by Rs 2, or 0.16%, to Rs 1,267 per quintal, with an open interest of 250 lots.

Analysts said apart from profit-booking by speculators, conducive weather conditions in producing states after recent widespread rains also weighed down on the wheat futures prices here.