Wheat prices drifted down by 0.85 per cent to Rs 1,748 per quintal in futures trade today as speculators reduced their holdings, triggered by sufficient stocks position at the spot market.
In futures trading at the National Commodity and Derivatives Exchange, wheat to be delivered in April fell by Rs 15, or 0.85 per cent to Rs 1,748 per quintal with an open interest of 1,250 lots.
Market analysts said off loading of positions by traders on the back of ample stocks position on increased arrivals from producing belts in the physical market against low demand led to decline in wheat prices at futures trade.
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