Wheat futures prices today fell by Rs 2 to Rs 1,214 per quintal as speculators reduced their positions, triggered by reports of rising procurement of grain in the ongoing rabi marketing season.
Slackened demand from flour mills also put some pressure on the wheat futures.
At the National Commodity and Derivatives Exchange, the July delivery traded Rs 2, or 0.16%, lower at Rs 1,214 per quintal, with an open interest of 7,350 lots.
The June delivery shed Re 1, or 0.08%, to Rs 1,199 per quintal, with an open interest of 14,540 lots.
Analysts said the fall in wheat prices at futures trade was due to off-loading of positions by speculators as procurement of grain by the government agencies picked up at producing belts and sluggish demand from flour mills.
