Wheat futures slide 0.18 pc on ample stocks

Wheat prices eased by 0.18 per cent to Rs 1,624 per quintal in futures trading today as speculators trimmed positions amid weak trend at spot market on low demand against adequate stocks position.
At the National Commodity and Derivatives Exchange, wheat for delivery in August fell by Rs 3, or 0.18 per cent, to Rs 1,624 per quintal with an open interest of 4,850 lots.
However, wheat for delivery in July held steady at Rs 1,605 per quintal in 22,350 lots.
Analysts said offloading of positions by traders, triggered by ample adequate stocks in physical markets against muted demand from flour mills, mainly influenced wheat prices at futures trade.