Wheat prices declined by 0.16 per cent to Rs 1,823 per quintal in futures market today as speculators reduced holdings, triggered by sufficient stocks position at spot markets on increased supply.
At the National Commodity and Derivatives Exchange, wheat for delivery in July was trading lower by Rs 3 or 0.16 per cent to Rs 1,823 per quintal with an open interest of 6,510 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, mainly weighed on wheat prices at futures trade.
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