Wheat prices moved down by 0.67 per cent to Rs 1,783 per quintal in futures trading today as speculators reduced holdings, triggered by ample stocks position on higher supplies at spot markets.
At the National Commodity and Derivatives Exchange, wheat for delivery in June fell by Rs 12, or 0.67 per cent to Rs 1,783 per quintal with an open interest of 6,740 lots.
In a similar fashion, the wheat for delivery in far-month July shed Rs 8, or 0.44 per cent to Rs 1,802 per quintal in 3,600 lots.
Market analysts said cutting down of positions by traders, triggered by sufficient stocks position on increased arrivals from producing belts in the physical markets against low demand, weighed on wheat prices at futures trade.
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