NEW DELHI, Feb 6: Wheat remained weak for the second day as prices fell by another 0.42 per cent to Rs 1,650 per quintal in futures trade today as speculators engaged in reducing holdings, driven by sufficient stocks position on higher supplies from producing belts.
At the National Commodity and Derivatives Exchange, wheat for delivery in February declined by Rs 7, or 0.42 per cent, to Rs 1,650 per quintal with an open interest of 4,540 lots.
Market analysts said offloading of positions by traders following ample stocks position on increased arrivals from producing belts in the physical markets against muted demand kept wheat prices lower in futures trade. (PTI)
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