Wheat futures extend losses, shed 0.43%

Wheat prices eased further by 0.43 per cent to Rs 1,632 per quintal in futures trade today as speculators trimmed positions, triggered by ample position on higher supplies from producing belts in the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in February fell by Rs 7, or 0.43 per cent, to Rs 1,632 per quintal with an open interest of 4,210 lots.

Similarly, the wheat for delivery in March contracts weakened by Rs 2, or 0.12 per cent, to Rs 1,672 per quintal in 2,420 lots.

Market analysts said cutting down of positions by traders following sufficient stocks position on increased arrivals from producing belts in the physical markets against lower demand kept wheat prices down.