Wheat prices slipped by 0.59 per cent to Rs 1,675 per quintal in futures trading today as speculators reduced their holdings, triggered by sufficient stocks position at the spot market.
At the National Commodity and Derivatives Exchange, wheat to be delivered in April fell by Rs 10, or 0.59 per cent to Rs 1,675 per quintal with an open interest of 1,770 lots.
Likewise, the wheat for delivery in May contracts shed Rs 9, or 0.53 per cent to Rs 1,692 per quintal in 210 lots.
Market analysts said reducing of positions by traders on the back of ample stocks position on increased arrivals from producing belts in the physical market against low demand, weighed on wheat prices at futures trade.
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