Wheat futures soften on ample stocks

Wheat prices were down 0.29 per cent to Rs 2,033 per quintal in futures market Tuesday as speculators trimmed holdings amid adequate stocks at the spot market on increased supplies.

At the National Commodity and Derivatives Exchange, wheat for delivery in October declined by Rs 6, or 0.29 per cent to Rs 2,033 per quintal with an open interest of 2,310 lots.

Market analysts said cutting down of positions by traders, driven by sufficient stock position on increased arrivals from producing belts in the physical markets against low demand, put pressure on wheat prices in futures trade.

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