Wheat prices declined by another 1.07 per cent to Rs 1,762 per quintal in futures market today as speculators indulged in trimming positions amid sufficient stocks position on increased supplies at spot markets.
At the National Commodity and Derivatives Exchange, wheat for delivery in June eased by Rs 18, or 1.07 per cent to Rs 1,762 per quintal with an open interest of 6,240 lots.
Similarly, the wheat for delivery in far-month July was trading lower by Rs 16, or 0.90 per cent to Rs 1,771 per quintal in 4,020 lots.
Market analysts said off-loading of positions by traders, triggered by ample stocks on increased arrivals from producing belts in the physical markets against weak demand, put pressure on wheat prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
