Wheat futures down 0.67% on adequate stocks

Wheat prices moved down by 0.67 per cent to Rs 1,768 per quintal in futures trade today as speculators reduced their exposure amid reduced offtake by flour mills at the spot markets.

At the National Commodity and Derivatives Exchange, wheat for delivery in far-month October fell by Rs 12, or 0.67 per cent to Rs 1,768 per quintal with an open interest of 3,150 lots.

Similarly, the wheat for delivery in September contracts shed Rs 8, or 0.46 per cent to Rs 1,749 per quintal in 20,330 lots.

Traders attributed the fall in wheat futures to muted demand from flour mills in the spot market against adequate stocks position.