Wheat futures extend fall, down 0.59 pc on ample stocks

Continuing its falling streak for the third consecutive day, wheat prices eased further by 0.59 per cent to Rs 2,012 per quintal in futures trading today as speculators engaged in trimming their positions, triggered by adequate stocks position at spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in January declined by Rs 12, or 0.59 per cent to Rs 2,012 per quintal with an open interest of 4,160 lots.
Analysts said, persistent cut in positions by traders amid sufficient stocks position in the physical market against tepid demand from flour mills, mainly kept wheat prices lower at futures trade.