Wheat futures weaken 0.33 pc on ample stocks

NEW DELHI, June 8: Wheat prices softened by 0.33 per cent to Rs 1,795 per quintal in futures market today as speculators reduced their holdings, triggered by adequate stocks in the spot market on increased supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in July month fell Rs 6, or 0.33 per cent to Rs 1,795 per quintal with an open interest of 6,660 lots.
Similarly, the wheat for delivery in June contracts shed Rs 3, or 0.17 per cent to Rs 1,781 per quintal in 4,220 lots.
Market analysts said offloading of positions by traders on the back of sufficient stocks position on increased arrivals from producing belts in the physical markets against weak demand, led to decline in wheat futures. (PTI)


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