Wheat futures marginally down

Wheat prices fell by 0.69 per cent to Rs 1,865 per quintal in futures market today as participants engaged in reducing their positions, driven by sufficient stocks position at the spot market against subdued demand.

At the National Commodity and Derivatives Exchange, wheat for delivery in February declined by Rs 13, or 0.69 per cent, to Rs 1,865 per quintal with an open interest of 4,620 lots.

Analysts said offloading of positions by traders amid ample stocks position in the physical market against sluggish demand from flour mills, mainly kept wheat prices lower at futures trade.