Wheat futures remain weak on higher supply

NEW DELHI, May 10: Wheat prices fell further by 0.29 per cent to Rs 1,740 per quintal in futures trading today as speculators engaged in cutting down holdings amid sufficient stocks at spot markets on higher supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in May declined by Rs 5, or 0.29 per cent to Rs 1,740 per quintal with an open interest of 1,290 lots.
Similarly, the wheat for delivery in June contracts shed Rs 5, or 0.28 per cent to Rs 1,773 per quintal in 4,290 lots.
Market analysts said offloading of positions by traders, triggered by ample stocks on increased arrivals from producing belts in the physical market against muted demand, mainly kept pressure on wheat prices at futures trade. (PTI)


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