Wheat futures weaken by 0.17% on higher supply

Wheat prices edged lower 0.17 per cent to Rs 1,713 per quintal in futures trading today as speculators trimmed positions, triggered by ample stocks position on increased supplies from producing regions at the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in December was trading lower by Rs 3, or 0.17 per cent to Rs 1,713 per quintal with an open interest of 11,790 lots.

Analysts said cutting down of positions by traders amid sufficient stock position at the physical market against tepid demand mainly influenced wheat prices in futures trade.

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