Wheat range-bound on sluggish demand

With not much trading taking place in the market, dara and flour prices remained unchanged on Thursday

In the physical market, after witnessing a fall earlier this week, dara ruled flat and 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.

Radhey Sham, a trade expert, told

Business Line that because the demand matched the supply, wheat prices have been ruling without much alteration

Traders expect wheat to continue to rule range-bound for the next few days too, a trader said.

Similarly, Desi wheat varieties continued to rule flat on low stocks and sluggish demand and quoted at Rs 2,500-2,550.

Meanwhile, wheat futures remained bearish on subdued demand.On the National Commodity and Derivatives Exchange, wheat for December delivery decreased by Rs 7 and traded at Rs 1,606.

January contracts went down by Rs 4 to Rs 1,594. Wheat spot prices traded at Rs 1,600.

Flour Prices

Steady off-take kept flour prices unchanged and quoted at Rs 1,750. Similarly, Chokar ruled flat at Rs 1,550.