Wheat prices drifted 0.30 per cent lower to Rs 1,675 per quintal in futures trade today as speculators cut exposure, triggered by sufficient higher supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in January declined Rs 5, or 0.30 per cent, to Rs 1,675 per quintal with an open interest of 6,740 lots.
Likewise, the wheat for delivery in February contracts was trading Rs 4, or 0.23 per cent, lower at Rs 1,710 per quintal in 1,470 lots.
Marketmen said ample stock position on increased arrivals from producing belts against low demand led to decline in wheat prices at futures trade.
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