Wheat futures soften on low demand

Wheat prices eased by 0.10 percent to Rs 1,993 per quintal in futures market today as speculators cut down holdings amid fall in demand at the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, wheat for delivery in September declined by Rs 2, or 0.10 percent to Rs 1,993 per quintal with an open interest of 3,220 lots.

Market analysts said offloading of positions by traders owing to muted demand in the physical markets against sufficient stocks position on increased arrivals from producing belts, led to decline in wheat prices in futures trade.

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