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Wheat futures soften by 0.24% on adequate stocks

Press Trust of India  |  New Delhi 

Wheat prices weakened by 0.24 per cent to Rs 2,066 per quintal in futures trade today as traders cut down their exposure to book profits amid ample stocks position at spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in December eased by Rs 5, or 0.24 per cent, to Rs 2,066 per quintal, with an open interest of 10,690 lots.

Similarly, the wheat for delivery in January 2017 was also trading lower by Rs 3, or 0.14 per cent, to Rs 2,090 per quintal in 2,680 lots.

Analysts said besides trimming of positions by participants to lock-in profits, adequate stocks position at spot market mainly 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: Mon, November 28 2016. 12:28 IST