Wheat prices were lower by 0.64 per cent to Rs 1,716 per quintal in futures market today as speculators reduced holdings coupled with adequate stocks position at spot markets on increased supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in May declined by Rs 11, or 0.64 per cent to Rs 1,716 per quintal with an open interest of 2,740 lots.
On similar lines, the wheat for delivery in June shed Re 1, or 0.06 per cent to Rs 1,730 per quintal in 210 lots.
Market analysts said offloading of positions by traders, driven by sufficient stocks position on increased arrivals from producing belts in the physical markets against low demand, pulled down wheat prices at futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
