Wheat prices fell by 1.96 per cent to Rs 1,900 per quintal in futures trade today as traders reduced their exposures, triggered by adequate stocks position at the spot market against easing demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in January month moved down by Rs 38, or 1.96 per cent to Rs 1,900 per quintal with an open interest of 1,850 lots.
Likewise, the wheat for delivery in February contracts lost Rs 23, or 1.20 per cent to Rs 1,892 per quintal in 3,830 lots.
Analysts said offloading of positions by participants amid sufficient stocks in the physical market against weak demand from flour mills, mainly kept wheat prices lower at futures trade.
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