Wheat prices weakened by 0.41 per cent to Rs 1,705 per quintal in futures trade 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 May was trading lower by Rs 7, or 0.41 per cent, at Rs 1,705 per quintal with an open interest of 2,320 lots.
Market analysts said cutting down of positions by traders on the back of ample stocks position on increased arrivals from producing belts in the physical market against muted demand led to decline in wheat prices at futures trade.
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