Wheat prices dropped by 1.81 per cent to Rs 1,632 per quintal in futures trading today as speculators trimmed positions, triggered by ample stocks position on increased supplies at spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in April fell by Rs 30, or 1.81 per cent, to Rs 1,632 per quintal with an open interest of 3,510 lots.
On similar lines, the wheat for delivery in May shed Rs 14, or 0.83 per cent to Rs 1,671 per quintal in 7,480 lots.
Analysts said, offloading of positions by traders on the back of adequate stocks position on increased arrivals from producing regions in the physical market, mainly pulled down wheat prices at futures trade.
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