Wheat prices eased further by 0.18 per cent to Rs 1,700 per quintal in futures trade today as speculators reduced holdings amid adequate stocks position at spot markets on increased supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in May was trading lower by Rs 3, or 0.18 per cent, at Rs 1,700 per quintal with an open interest of 2,510 lots.
Market analysts said trimming of positions by traders, triggered by sufficient stocks position on increased arrivals from producing belts against subdued demand kept pressure on wheat futures.
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