Wheat futures weaken by 0.15% on ample stocks

Wheat prices shed 0.15 percent to Rs 1,988 per quintal in futures trade today as speculators cut down holdings, triggered by adequate stocks position at the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in September declined by Rs 3, or 0.15 percent to Rs 1,988 per quintal with an open interest of 3,390 lots.

Market analysts said offloading of positions by traders on the back of sufficient stocks position against lower demand, weighed on wheat prices in futures trade.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)