Wheat prices moved down by 1.57 per cent to Rs 1,625 per quintal in futures market today as participants reduced positions, triggered by sufficient stocks in mandis on higher supplies from producing regions.
At the National Commodity and Derivatives Exchange, wheat for delivery in May month fell by Rs 26, or 1.57 per cent, to Rs 1,625 per quintal with an open interest of 11,460 lots.
Likewise, the wheat for delivery in far-month June declined by Rs 26, or 1.55 per cent, to Rs 1,655 per quintal in 5,300 lots.
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Analysts attributed the fall in wheat futures to ample stocks position in mandis on higher supplies from producing regions.
Wheat arrival in the mandis of Haryana has touched a new high of 58,59,554 tonnes in the ongoing wheat procurement season.
