After witnessing an uptrend earlier this week, dara wheat and flour prices remained unchanged on good domestic buying on Friday.
Following demand for flour, interest in dara wheat remained firm, said Radhey Shyam, a wheat trader.
Prices have been ruling firm since Tuesday and Dara wheat and flour prices are likely to rule range-bound for the next few days, he added. Prices of dara wheat and flour have increased by Rs 20 each over the last 10 days.
Market may not hold its current levels for long as wheat prices are expected to fall later this month, said Radhey Shyam.
In the physical market, dara remained unchanged and quoted at Rs 1,555-1,560 a quintal. Around 50 tonnes of dara variety arrived from Uttar Pradesh the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,555 while delivery at the chakki was Rs 1,560 .
On the National Commodity and Derivatives Exchange, wheat for March contracts increased by Rs 19 and traded at 1,553 . The open interest of the contract stood at 4,370 lots.
While, April contracts went down by Rs 12 and traded at Rs 1,414 .
Wheat spot prices on the exchange decreased by Rs 25 and traded at Rs 1,515 .
There was too much volatility in the wheat futures market on Friday. The Government has allowed additional wheat exports for private trade for three months with higher floor rate but the decision has come a little late because wheat prices have been falling in global market, said market experts.
The price would equate to around $314 a tonne on FOB while buyers can get stocks at about $260 for Black Sea which will be ready for delivery in the next three to four months.
Steady demand kept flour prices unchanged and quoted at Rs 1,760-1,770 .
Similarly, Chokar continued to rule flat and sold at Rs 1,360-1400 a quintal.