Wheat prices further went down by 0.75 per cent to Rs 1,720 per quintal in futures market today as speculators engaged in reducing holdings, triggered by sufficient stocks positions in spot markets on higher supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in March fell by Rs 13, or 0.75 per cent, to Rs 1,720 per quintal with an open interest of 1,440 lots.
Similarly, wheat for delivery in February was trading lower by Rs 8, or 0.47 per cent, to Rs 1,710 per quintal in 5,350 lots.
Market analysts said cutting down of positions by traders on the back of ample stocks position on increased arrivals from producing belts in the physical market against muted demand, mainly kept wheat prices down at futures trade.
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