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Wheat futures shed 2.32% on ample stocks

Press Trust of India  |  New Delhi 

prices moved down by 2.32 per cent to Rs 1,770 per quintal in futures trade today as speculators cut down their holdings, triggered by adequate stocks in the spot market on increased supplies.

At the National Commodity and Derivatives Exchange, for delivery in August fell by Rs 42, or 2.32 per cent, to Rs 1,770 per quintal with an open interest of 200 lots.

Similarly, the for delivery in July contracts 3, or 0.17 per cent, to Rs 1,785 per quintal in 9,250 lots.

Market analysts said offloading of positions by traders, driven by sufficient stock position on increased arrivals from producing belts in the physical markets against low demand, weighed on wheat prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 12:21 IST