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Wheat futures down 0.66% on ample stocks

Press Trust of India  |  New Delhi 

Wheat prices declined by 0.66 per cent to Rs 1,655 per quintal in futures market today as speculators reduced their exposure amid sufficient stocks position at the spot market against low demand.

At the National Commodity and Derivatives Exchange, wheat for delivery in September fell by Rs 11, or 0.66 per cent, to Rs 1,655 per quintal, with an open interest of 10,660 lots.

Likewise, the wheat for delivery in August shed Rs 10, or 0.61 per cent, to Rs 1,632 per quintal in 11,390 lots.

Analysts said offloading of positions by traders, driven by adequate stocks position on increased supplies in the physical market against muted demand from flour mills, mainly weighed on 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: Tue, August 08 2017. 18:13 IST