Wheat futures fell by Rs 8, or 0.64 per cent, to trade at Rs 1,233 per quintal today.
Mounting stocks in the physical market and government's plan to release five million tonnes of grain in the open market, also kept pressure on the wheat prices at futures trade.
At the National Commodity and Derivatives Exchange counter, wheat for delivery in July contract fell by Rs 8, or 0.64 per cent, to Rs 1,233 per quintal, with an open interest of 21,430 lots. It had ended 0.85 per cent higher at Rs 1,241 per quintal in the previous session.
Market analysts said apart from mounting stocks in the spot market on increased arrivals, government's decision to release five million tonnes of the grain in the open market, put pressure on the wheat prices at futures market here.