Wheat futures soften by 0.17% on adequate stocks

Wheat prices eased by 0.17 per cent to Rs 1,771 per quintal in futures market today as speculators trimmed positions, triggered by adequate stocks position at spot market against muted demand from flour mills.
At the National Commodity and Derivatives Exchange, wheat for delivery in September declined by Rs 3, or 0.17 per cent, to Rs 1,771 per quintal, with an open interest of 1,260 lots.
However, the wheat for delivery in October held steady at Rs 1,751 per quintal in 15,490 lots.
Analysts attributed the fall in wheat futures to subdued demand from flour mills in the spot market against ample stocks position.