The bearish trend in wheat market continued with dara wheat prices drifting lower by Rs 80 a quintal on Tuesday.
Satish Kumar, a wheat trader, told Business Line that slack overseas enquiries coupled with domestic demand pulled wheat prices down.
The overall market sentiment for wheat are weak and additional supplies from Government warehouses could pull local prices further down, he said.
In the physical market, dara went down by Rs 80 and quoted at Rs 1,430-1,440 a quintal. Around 60 tonnes of dara variety arrived from Uttar Pradesh. The stocks were directly offloaded at the mills.
Mill delivery was Rs 1,430-1,435 while delivery at the chakki was Rs 1,440 a quintal. Being a national holiday, there was no trading on the NCDEX and the MCX on Tuesday.
Flour prices went down by Rs 60 and sold at Rs 1,440 for a 90-kg bag while Chokar ruled flat at Rs 690 for a 49-kg bag.