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Wheat futures turn weak on higher supply

Press Trust of India  |  New Delhi 

prices eased by 0.10 per cent to Rs 1,967 per quintal in futures trade today as speculators cut down holdings, triggered by higher supplies in the spot market against muted demand.

At the National Commodity and Derivatives Exchange, for delivery in 2, or 0.10 per cent to Rs 1,967 per quintal with an open interest of 4,840 lots.

However, for delivery in September held steady at Rs 1,985 per quintal in 2,930 lots.

Market analysts said off-loading of positions by traders on the back of 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, August 07 2018. 11:35 IST
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