Wheat futures slide 0.37% on ample stocks

Wheat prices eased by 0.37 per cent to Rs 1,634 per quintal in futures trading today as speculators reduced positions, triggered by sufficient stocks position at spot market against tepid demand.
At the National Commodity and Derivatives Exchange, wheat for delivery October fell by Rs 6, or 0.37 per cent to Rs 1,634 per quintal with an open interest of 13,710 lots.
Analysts said cutting down of positions by traders on the back of ample stocks position in the physical market against subdued demand from flour mills, mainly weighed on wheat prices at futures trade.