Wheat prices moved down by 0.58 per cent to Rs 1,713 per quintal in futures trade today as speculators reduced their holdings amid ample stocks at the spot market on increased supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in February fell by Rs 10, or 0.58 per cent, to Rs 1,713 per quintal with an open interest of 250 lots.
Likewise, wheat for delivery in January was trading lower by Rs 6, or 0.36 per cent, to Rs 1,680 per quintal in 8,680 lots.
Analysts said offloading of positions by traders following ample stocks position on increased arrivals from producing belts at the physical market against low demand, mainly led to decline in wheat prices at futures trade.
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