Wheat futures weaken by 0.25% on adequate stocks

Wheat prices were down by 0.25 per cent to Rs 1,985 per quintal in futures trade today as traders trimmed their positions, triggered by ample stocks position at spot market against subdued demand.

At the National Commodity and Derivatives Exchange, wheat for delivery in January declined by Rs 5, or 0.25 per cent, to Rs 1,985 per quintal, with an open interest of 3,640 lots.

Analysts said, offloading of positions by participants amid sufficient stocks position in the physical market against lower demand from flour mills, mainly led to the decline in wheat prices at futures trade.