Wheat prices moved down by 0.75 per cent to Rs 1,990 per quintal in futures market today as speculators cut down holdings, triggered by ample stocks position in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in October fell by Rs 15, or 0.75 per cent, to Rs 1,990 per quintal with an open interest of 600 lots.
Likewise, the wheat for delivery in September shed Rs 7, or 0.35 per cent, to Rs 1,981 per quintal in 3,760 lots.
Market analysts said cutting down of positions by traders, driven by sufficient stocks position on increased arrivals from producing belts in the physical markets against lower demand, weighed on wheat prices in futures trade.
Disclaimer: No Business Standard Journalist was involved in creation of this content
