Wheat futures succumb to profit-booking

Wheat prices softened by 0.68 per cent to Rs 2,038 per quintal in futures trading today as speculators booked profits at prevailing levels.

At the National Commodity and Derivatives Exchange, wheat for delivery in December month fell by Rs 14, or 0.68 per cent, to Rs 2,038 per quintal with an open interest of 9,550 lots.

Similarly, the wheat for delivery in November contracts shed Rs 3, or 0.15 per cent, to Rs 2,029 per quintal in 10,230 lots.

Analysts said profit-booking by traders at existing levels after recent gains, led to decline in wheat prices at futures trade.