Wheat futures slide 0.93 pc on ample stocks

NEW DELHI, July 17: Wheat prices drifted lower by 0.93 per cent to Rs 1,913 per quintal in futures trade today as speculators cut down holdings triggered by adequate stocks in the spot market.
In futures trading at the National Commodity and Derivatives Exchange, wheat for delivery in August fell by Rs 18, or 0.93 per cent, to Rs 1,913 per quintal with an open interest of 8,060 lots.
Market analysts said offloading of positions by traders driven by sufficient stocks position on increased arrivals from producing belts in the physical markets against low demand, weighed on wheat prices in futures trade. (PTI)