NEW DELHI: Snapping a week-long winning streak, wheat prices fell marginally in futures trading on the National Commodity and Derivatives Exchange on Monday as traders preferred to book profits at higher levels.Expectations that the Government may release wheat stocks for sale in the open market also put some pressure on the wheat prices at the futures market here. The grain had recorded a hefty rise of almost six per cent in the previous week.
At the MCX, wheat for delivery in November contract traded 0.17 per cent down at Rs 1,357.50 a quintal with a turnover of 13 lots. The contract ended 0.20 per cent higher at Rs 1,363.60 a quintal in the previous session.
In a similar fashion, wheat for delivery in December contract also moved down by 0.06 per cent to Rs 1,361.10, in a turnover of 14 lots. Analysts said profit-taking by traders at prevailing higher levels and hopes that the government might release wheat stocks for sale in the open market also led to a decline in grain prices at the futures market here. – PTI
