Wheat prices weakened by 0.24 per cent to Rs 1,649 per quintal in futures trade today as speculators trimmed their positions, triggered by sufficient stocks at the markets following persistent arrivals of new crop.
In futures trading at the National Commodity and Derivatives Exchange, wheat for delivery in far-month June shed Rs 4, or 0.24 per cent, to Rs 1,649 per quintal with an open interest of 8,660 lots.
Similarly, the wheat for delivery in May contracts traded lower by Rs 3, or 0.18 per cent, to Rs 1,620 per quintal in 6,090 lots.
Traders attributed the slide in wheat futures to ample stocks position in the physical market on increased supplies from producing regions.
