Wheat prices fell by 0.32% in futures trade today on adequate supply following record procurement by the government.
At the National Commodity and Derivatives Exchange, September delivery for wheat fell by Rs 4, or 0.32%, to Rs 1,228 per quintal, with an open interest for 5,440 lots.
Similarly, August delivery for wheat lost Rs 1.80, or 0.15%, to Rs 1,205 per quintal in 17,530 lots.
Analysts said supply pressure in the spot market following record procurement by the government, on the back of bumper output this season, mainly kept pressure on the wheat prices at futures trade.
In addition, reduced offtake by flour mills also influenced the trading sentiment, they said.
