Wheat prices slipped by 0.55 per cent to Rs 1,980 per quintal in futures trade today as speculators cut down holdings, triggered by higher supplies in the spot market against low demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in September fell by Rs 11, or 0.55 per cent, to Rs 1,980 per quintal with an open interest of 2,050 lots.
Similarly, the wheat for delivery in August contracts shed Rs 5, or 0.25 per cent, to Rs 1,967 per quintal in 5,560 lots.
Market analysts said offloading of positions by traders on the back of sufficient stocks position on increased supplies from producing belts in the physical markets against easing demand, weighed on wheat prices in futures trade.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)