Wheat prices moved down by 0.45 per cent to Rs 1,973 per quintal in futures market today as speculators cut down holdings, triggered by adequate stocks in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in September fell by Rs 9, or 0.45 per cent, to Rs 1,973 per quintal with an open interest of 2,000 lots.
However, wheat for delivery in August contracts held steady at Rs 1,959 per quintal in 6,060 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, weighed on wheat prices in futures trade.
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