Wheat futures soften by 0.40% on ample stocks

Wheat prices eased by 0.40 per cent to Rs 1,764 per quintal in futures trade today as speculators trimmed positions, triggered by adequate stocks position at spot market against subdued demand from flour mills.
At the National Commodity and Derivatives Exchange, wheat for delivery in November declined by Rs 7, or 0.40 per cent, to Rs 1,764 per quintal, with an open interest of 2,560 lots.
Wheat for delivery in October also shed Rs 2, or 0.11 per cent, to Rs 1,751 per quintal in 8,250 lots.
Analysts attributed the fall in wheat futures to sluggish demand from flour mills in the spot market against adequate stocks position.