Wheat futures traded Rs 2.60, or 0.21 per cent, lower at Rs 1,246.20 per 100 kg today, as traders reduced their positions following a bumper crop and ample stocks at the spot markets.
At the National Commodity and Derivatives Exchange counter, wheat for delivery in September contracts fell Rs 2.60, or 0.21 per cent, to Rs 1,246.20 per 100 kg, with an open interest of 30,270 lots.
The grain for delivery in November month contracts also shed Rs 1.60, or 0.12 per cent, to Rs 1,285 per 100 kg, with an open interest of 6,650 lots.
Analysts said a bumper crop and ample stocks at the physical markets mainly kept pressure on the wheat futures prices.
