Wheat futures weaken 0.18% on ample stocks

Wheat prices eased by 0.18 per cent to Rs 1,686 per quintal in futures trading today as speculators reduced exposure, triggered by sufficient stocks positions in spot markets on higher supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in February shed Rs 3, or 0.18 per cent to Rs 1,686 per quintal with an open interest of 5,470 lots.
Market analysts said offloading of positions by traders, driven by adequate stocks position on increased arrivals from producing belts in the physical market against lower demand weighed on prices.