Wheat futures remain weak, shed 0.24% on higher supply

Wheat prices eased further by 0.24 per cent to Rs 1,688 per quintal in futures trade today as speculators reduced exposure, triggered by ample stocks position on higher supplies at the spot markets.

Wheat for delivery in November declined by Rs 4, or 0.24 per cent to Rs 1,688 per quintal with an open interest of 10,830 lots at the National Commodity and Derivatives Exchange.

Analysts said offloading of positions by participants amid sufficient stocks position on increased arrivals from producing regions in the physical market against low demand, mainly weighed on wheat prices at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)