Wheat futures prices eased marginally by Rs 3, or 0.23 per cent, to Rs 1,287.40 per 100 kg today after speculators reduced their positions driven by government's plan not to impose import duty on the grain.
However, expectations of increased export to Asian countries as a drought ridden Russia temporarily stopped exports.
At the National Commodity and Derivatives Exchange counter, wheat for delivery in October contracts fell by Rs 3, or 0.23 per cent, to Rs 1,287.40 per 100 kg, with an open interest of 11,180 lots.
Similarly, the delivery of September contracts drifted by Rs 1.60, or 0.13 per cent, to Rs 1,270 per 100 kg, with an open interest of 26,900 lots.
The grain for delivery in August contracts fell by Rs 1.20, or 0.10 per cent, to Rs 19,330 per 100 kg in an open interest of 19,330 lots.
Analysts attributed the fall in wheat futures prices to the government's plan of not imposing duty on wheat import as of now but experts speculate it may allow more export to Asian countries after drought hit Russia temporarily halted exports.
