Slack trading pounds wheat

With the trading being lukewarm, wheat and flour prices remained unchanged on Friday.

In the physical market, Dara was quoted at Rs 1,530-1,540 a quintal. Around 600 quintals of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,530-1,535 while delivery at the chakki was Rs 1,540.

Satish Kumar, a trade expert, told

Business Line that with demand being steady for the dara variety in the market at present, prices are ruling flat. Flour mills are procuring stocks under the open market sale scheme from the Food Corporation of India at the levels of Rs 1,520-1,530. Any major alteration is unlikely in the market at present, he added.

Similarly, Desi wheat varieties continued to rule flat on low stocks and quoted between Rs 2,500 and Rs 2,550 . Desi wheat varieties are almost out of stock, said the trader.

As expected, wheat futures remained bearish. On the National Commodity and Derivatives Exchange, wheat for January delivery decreased by Rs 2 and traded at Rs 1,588 while the February contract went down by Rs 4 to Rs 1,569.

Wheat spot prices on the exchange traded at Rs 1,565 a quintal.

Flour Prices

With the demand being steady, flour prices too ruled flat at their previous levels and quoted at Rs 1,750 . Similarly, Chokar ruled flat and went for Rs 1,550 a quintal.