In a range-bound trading, wheat futures prices fell by Rs 2.80, or 0.23 per cent, to Rs 1,238.40 per quintal today, as traders reduced their positions on increased supplies in the spot market.
At the National Commodity and Derivatives Exchange counter, wheat for delivery in July contract fell by Rs 2.80, or 0.23 per cent, to Rs 1,238.60 per quintal, with an open interest of 22,790 lots.
It ended 0.30 per cent lower at Rs 1,237 per quintal in the previous session.
Similarly, the delivery of August contract drifted by Rs 2.40, or 0.19 per cent, to Rs 1,258.40 per quintal, with an open interest of 10,800 lots.
Analysts said apart from mounting stocks in the spot market, government's decision to release five million tonnes of the grain in the open market, put pressure on the wheat prices at futures market here.
