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Wheat futures down 0.55 pc on ample stocks

Press Trust of India  |  New Delhi 

Wheat prices moved down by 0.55 per cent to Rs 1,820 per quintal in futures trading today as speculators pared their holdings amid adequate stocks position on increased supplies at the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in far-month July fell by Rs 10, or 0.55 per cent to Rs 1,820 per quintal with an open interest of 30 lots.

However, wheat for delivery in June month held steady at Rs 1,800 per quintal in 5,920 lots.

Analysts said cutting down of positions by traders on sufficient stocks position in the spot markets on increased arrivals from producing belts mainly led to decline in wheat prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 12:30 IST