NCDEX Wheat Drops On Increased Arrivals (07-Jun-2011)
Wheat commodities wilted nearly Rs 10 each quintal right now on the back of solid arrivals of wheat for the duration of the present marketing period. Investors are anticipating more drop in the rates in the future.
Based on the most recent data complied by govt , the FCI and some other state firms have purchased 26.43 MT of grain up to now in the present year , that is well across the prior record procurement of 25.38 MT reached in the 2009-10 period.
For the duration of the present season, Punjab and also MP were the best states to obtain nearly 11 MT and 4.75 MT correspondingly.
This prompted to scarcity of purchasing by investors and millers because they are anticipating more fall in the rates in the future. The NCDEX June commodities pared 8 each quintal to deal Rs 1165 each quintal right now.
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