Wheat prices softened by 0.47 per cent to Rs 1,688 per quintal in futures trade today as speculators reduced exposure amid easing demand in the spot market against sufficient stocks position.
At the National Commodity and Derivatives Exchange, wheat for delivery in September declined by Rs 8, or 0.47 per cent to Rs 1,688 per quintal with an open interest of 5,360 lots.
Likewise, the wheat for delivery in August contracts shed Rs 6, or 0.36 per cent to Rs 1664 per quintal in 15,700 lots.
Analysts said cutting down of positions by traders following subdued demand from flour mills in the physical market against ample stocks position on increased supplies from producing belts mainly influenced wheat prices at futures trade.
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