April 7, 2011 2:32 PM

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Wheat prices continue to move down

Wheat prices continued to move down and fell by 0.22 per cent to Rs 1,187.60 per quintal at futures trade today as speculators off-loaded positions since the country is estimated to have a record output this crop year. Adequate stocks at the spot markets amid sluggish demand from flour mills also kept pressure on wheat prices. At the National Commodity and Derivatives Exchange, wheat for delivery in May fell by Rs 2.60, or 0.22 per cent, to Rs 1,187.60 per quintal, with an open interest of 30,130 lots. Meanwhile, wheat production is estimated to be at record high of 84.27 million tonnes this crop year.

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