Wheat futures down on profit-booking

Wheat prices eased by 0.43 per cent to Rs 1,610 per quintal in futures trade today as traders booked profits, tracking a weak trend in spot market on muted demand from flour mills.
Besides, expectations of higher output weighed on wheat futures.
At the National Commodity and Derivatives Exchange, wheat for delivery in February month declined by Rs 7, or 0.43 per cent to Rs 1,610 per quintal with an open interest of 1,100 lots.
Also, the wheat for delivery in far-month April contracts traded lower by Re 1, or 0.06 per cent to Rs 1,570 per quintal in 980 lots.

Analysts said profit-booking traders locked in gains, tracking a weak trend at spot market on low demand against adequate stocks position mainly attributed fall in wheat prices at futures market.