Wheat prices fell by 0.77 per cent to Rs 1,666 per quintal in futures trading today as speculators went about reducing their exposure amid sufficient stock position at the spot market against easing demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in September fell by Rs 13, or 0.77 per cent, to Rs 1,666 per quintal with an open interest of 6,750 lots.
Wheat for delivery in August contracts traded lower by Rs 11, or 0.66 per cent, to Rs 1,644 per quintal in 14,610 lots.
Analysts said trimming of positions by traders, driven by increased supplies in the physical market against subdued demand from flour mills, mainly kept up pressure on the wheat futures.
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