Wheat prices went further down by 0.30 per cent to Rs 1,650 per quintal in futures trade today as speculators engaged in trimming positions, triggered by adequate stocks position on higher supplies from producing regions at the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in December declined by Rs 5, or 0.30 per cent, to Rs 1,650 per quintal with an open interest of 1,370 lots.
However, wheat for delivery in January held steady at Rs 1,682 per quintal in 8,420 lots.
Analysts said offloading of positions by traders on the back of ample stock position on increased arrivals from producing belts at the physical market against low demand, mainly kept wheat prices lower at futures trade.
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