Wheat prices fell by Rs 10 to Rs 1,178 per quintal in futures trade today on adequate supply against reduced offtake.
Adequate supply following increased arrivals of new crops mainly put pressure on wheat futures prices.
At the National Commodity and Derivatives Exchange, wheat for delivery in July fell by Rs 10, or 0.84%, to Rs 1,178, with an open interest for 32,690 lots.
Similarly, wheat for delivery in August lost Rs 10, or 0.82%, to Rs 1,205 in 14,710 lots.
Analysts said supply pressure in the spot market following new crop arrivals mainly influenced wheat futures prices. In addition, reduced offtake from flour mills also influenced the trading sentiment to some extent, they said.
