A range-bound movement is likely in wheat futures and spot market in the coming days, according to traders.
Around 1,000 bags of wheat arrived at the Karnal grain market terminal on Friday and the private trade made the procurement.
In the physical market, after witnessing a good rally in recent past, dara wheat remained firm at Rs 1,485-1,490 a quintal. Mill delivery was at Rs 1,485 a quintal, while delivery at the chakki was at Rs 1,490 a quintal.
Desi wheat variety sold at Rs 2,300 a quintal.
Dara wheat prices have increased by Rs 90 a quintal over the last couple of weeks. Traders expect that market may continue to rule around current levels for the next few days, he said.
In Delhi’s Lawrence road market, a benchmark for the country, wheat mill quality traded at Rs 1,550-1,590 a quintal.
On the National Commodity and Derivatives Exchange, wheat for June contracts increased by Rs 8 to Rs 1,613 a quintal with an open interest of 7,540 lots. The grain had made a low at Rs 1,602 a quintal earlier in the day.
July contracts went up by Rs 7 and traded at Rs 1,632 a quintal.
Flour Prices
Following a steady trend in wheat, flour too ruled flat and quoted at Rs 1,700 a quintal. Similarly, Chokar ruled flat and sold at Rs 1,250-1,275 a quintal.