Wheat prices declined by Rs 3.20 to Rs 1,230 per quintal in futures trade today on increased arrivals of new crops in the spot markets against reduced offtake.
At the National Commodity and Derivatives Exchange, wheat for June contract delivery declined by Rs 3.20, or 0.26%, to Rs 1,230 per quintal with an open interest for 15,230 lots.
Similarly, wheat for July contract delivery shed Rs 1.60, or 0.13%, to Rs 1,208 per quintal in 26,660 lots.
Analysts attributed the fall in wheat futures prices to rising arrivals of new crops against reduced offtake by traders.