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17-Jun2013

Wheat futures declined on poor spot demand

Wheat futures trade down on lack of spot demand. Also, reduced off take by flour mills against adequate supplies from producing belts, impacted the sentiment. Expectations of increased production and supply in the mandis due to good acreage in growing regions and timely onset of monsoon, triggered the fall in the prices of the grain.

The contract for June delivery was trading at Rs 1580.00, down by 0.63% or Rs 10.00 from its previous closing of Rs 1590.00. The open interest of the contract stood at 2550.00 lots.


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