Wheat unchanged on lacklustre trade

Slack trading kept dara wheat prices unchanged, while an increase in domestic demand pushed up flour prices on Tuesday.

In the physical market, dara wheat remained static and quoted at Rs 1,510-1,515 a quintal. Around 600 quintals of dara variety wheat arrived from Uttar Pradesh. Mill delivery was at Rs 1,510 while delivery at the chakki was Rs 1,515.

Radhey Shyam, a commodity expert, told

Business Line that millers and bulk buyers are buying according to their requirement currently because the Government may lower the prices of wheat sold under the open market sale scheme.

Wheat futures remained bearish, while the spot market witnessed some recovery on Tuesday. On the National Commodity and Derivatives Exchange, wheat for February contracts dropped by Rs 13 and traded at Rs 1,520; it had touched a high at Rs 1,539 earlier in the day. March contracts decreased by Rs 5 to Rs 1,446. Wheat spot prices on the exchange improved by Rs 10 and traded at Rs 1,500.

Despite a steady trend in wheat, flour prices increased on good buying. Flour went up by Rs 25 and quoted at Rs 1,740. Chokar ruled flat and sold at Rs 1,370-1400.