The wheat market ruled flat with all varieties maintaining their previous levels on Tuesday.
Satish kumar, a wheat trader, told Business Line that since the demand matched supply, prices were unchanged.
Wheat and flour prices have been ruling unchanged since November 9 and may continue to rule around current levels this week, he said. Good domestic demand for flour is keeping dara wheat in demand, said Mr Kumar.
In the physical market, around 50 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,540-1,545 a quintal, while delivery at the chakki was Rs 1,550 a quintal. Similarly, Desi wheat varieties continued to rule flat and quoted between Rs 2,500-2,550 a quintal.
On the National Commodity and Derivatives Exchange, wheat for December delivery increased by Rs 5 and traded at Rs 1,592 a quintal; it had touched a high at Rs 1,599 a quintal earlier on Tuesday. January contracts went up by Re 1 at Rs 1,590 a quintal. Wheat spot prices on the exchange went up by Rs 5 and traded at Rs 1,570 a quintal.
Flour Prices
With a steady trend in wheat, flour prices too ruled unchanged and sold at Rs 1,750 a quintal. On the other hand, Chokar went further up by Rs 100 on strong demand and sold at Rs 1,500 for a quintal.
Exports
A global trading firm Toepfer is the highest bidder for the wheat export tender floated by PEC last month. PEC had floated the tender to sell 55,000 tonnes of milling wheat for export. The highest bid was $319.15 a tonne.