Wheat prices drifted lower by 0.65 per cent to Rs 1,690 per quintal in futures trading today as speculators trimmed positions, triggered by adequate stocks position on increased supplies at spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in far-month June fell by Rs 11, or 0.65 per cent, to Rs 1,690 per quintal, with an open interest of 4,310 lots.
Similarly, the wheat for delivery in May was trading lower by Rs 4, or 0.24 per cent, to Rs 1,662 per quintal in 10,500 lots.
Analysts said offloading of positions by traders amid sufficient stocks position on increased arrivals from producing regions in the physical market, mainly led to the decline in wheat prices at futures trade.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)