Wheat futures soften by 0.18% on ample stocks

Wheat prices eased by 0.18 per cent to Rs 1,669 per quintal in futures trade today as speculators reduced their exposure, triggered by adequate stocks positions at the spot markets.
At the National Commodity and Derivatives Exchange, wheat for delivery in September declined by Rs 3, or 0.18 per cent, to Rs 1,669 per quintal, with an open interest of 14,610 lots.
Analysts said offloading of positions by traders, driven by sufficient stocks position on increased supplies from producing belts in the physical market, mainly influenced wheat prices at futures trade.