Wheat prices fell by 1.65 per cent to Rs 1,786 per quintal in futures trading today as speculators cut down their exposure, triggered by adequate stocks position at spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in far-month March drifted lower by Rs 30, or 1.65 per cent, to Rs 1,786 per quintal, with an open interest of 500 lots.
On similar lines, the wheat for delivery in January shed Rs 8, or 0.40 per cent, to Rs 2,009 per quintal in 4,050 lots.
Analysts said offloading of positions by traders, driven by sufficient stocks on improved supplies in the physical market against subdued demand from flour mills mainly kept pressure on wheat prices at futures trade.
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