Wheat futures down 0.83% on profit-booking

Wheat prices moved down by 0.83 per cent to Rs 1,788 per quintal in futures market today as speculators booked profits at prevailing levels, driven by easing demand at spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in far-month August fell by Rs 15, or 0.83 per cent to Rs 1,788 per quintal with an open interest of 22,650 lots.
On similar lines, the wheat for delivery in July contracts traded lower by Rs 12, or 0.68 per cent to Rs 1,761 in 17,620 lots.
Analysts attributed the fall in wheat futures to profit booking by participants amid weak demand from flour mills in the spot market against adequate stocks position.