With not much trading taking place in the market, dara wheat and flour prices remained unchanged on Tuesday.
Radhey Shyam, a trade expert, told Business Line that after witnessing a fall last week, wheat prices have been ruling unchanged since then.
Bulk buyers are keeping themselves out of the market as wheat prices are likely to fall in coming days, he said.
In the physical market, dara quoted at Rs 1,545-1,550 a quintal. Around 200 quintals of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills.
Mill delivery was at Rs 1,545 while delivery at the chakki was Rs 1,550.
On the NCDEX, wheat futures remained bearish on lack of buying interest.
Wheat for March contracts decreased by Rs 12 and traded at 1,525
With an open interest of 2,550 lots. April contracts went down by Rs 2 to Rs 1,426.
According to the market experts, the market witnessed sluggish trend on weak demand and in expectation of a higher new crop in coming weeks. Market is likely to move weak to range-bound in coming days, said experts.
While, wheat spot prices on the exchange improved by Rs 7.5 and traded at Rs 1,512.5.
Flour Prices
With a steady trend in wheat, flour prices too remained unchanged and quoted at Rs 1,760-1,770. Similarly, Chokar remained unchanged and sold at Rs 1,360-1,400.
Exports
MMTC Ltd has issued an international tender to export 65,000 tonnes of milling wheat for shipment in April. MMTC, STC and PEC have exported 25.58 lakh tonnes of wheat so far from the Government godowns.