Wheat marginally down in futures trade

Ample supplies also kept prices lower

Wheat prices fell by 0.17% to Rs 1,203 per quintal today as speculators reduced their positions amid ample supplies in spot markets from the new season crop.

At the National Commodity and Derivatives Exchange, wheat for delivery in July moved down by Rs 2, or 0.17%, to Rs 1,203 per quintal, with an open interest of 12,160 lots.

Similarly, wheat for delivery in June lost Re 1, or 0.08%, to Rs 1,186 per quintal, with an open interest of 20,620 lots.

Analysts said off-loading of positions by speculators on increased arrivals of the new season crop amid procurement by the government agencies put pressure on the grain prices at futures trade here.