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Wheat futures soften by 0.42% on ample stocks

Press Trust of India  |  New Delhi 

prices weakened by 0.42 per cent to Rs 1,879 per 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 July declined by Rs 8, or 0.42 per cent, to Rs 1,879 per with an open interest of 2,290 lots.

Likewise, the for delivery in 7, or 0.37 per cent, to Rs 1,890 per in 7,110 lots.

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

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

First Published: Tue, July 10 2018. 12:05 IST