Wheat futures extend losses, down 0.28% on ample stocks

Wheat prices fell further by 0.28 per cent to Rs 1,760 per quintal in futures trade today as speculators trimmed positions, triggered by ample stocks on increased supplies at spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in June declined by Rs 5, or 0.28 per cent, to Rs 1,760 per quintal with an open interest of 5,860 lots.

Market analysts said offloading of positions by traders, driven by sufficient stock position on increased arrivals from producing belts against lower demand kept wheat prices down in futures trade.