Falling for the second day, wheat prices eased by 0.70 per cent to Rs 1,840 per quintal in futures market today as speculators engagged in reducing bets, driven by sufficient stocks position at the spot market against low demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in February was trading lower by Rs 13, or 0.70 per cent to Rs 1,840 per quintal with an open interest of 5,150 lots.
Likewise, the wheat for delivery in far-month March moved down by Rs 10, or 0.57 per cent to Rs 1,749 per quintal in 1,300 lots.
Analysts said trimming of positions by traders amid ample stocks position in the physical market against weak demand from flour mills, mainly kept wheat prices lower at futures trade.
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