Wheat futures remain weak on increased arrivals

Wheat continued its slide and prices fell by another Rs 5 to Rs 1,185 per quintal in futures trade today on rising arrival of the new crop in the wholesale markets.

At the National Commodity and Derivatives Exchange, wheat for delivery in June remained weak and prices fell by Rs 5, or 0.42 per cent, to Rs 1,185 per quintal, with an open interest of 5,530 lots. 

The wheat for delivery in April also declined by Rs 1.80, or 0.16 per cent, to Rs 1,153.80 per quintal, with an open interest of 8,020 lots.

Analysts said adequate stocks in the market following rising supplies of new crop mainly put pressure on the wheat prices at futures trade here.