As expected, wheat and flour prices continued to rule firm at their previous levels, on Thursday. A steady trend is anticipated as market is getting good support from strong consumer demand, said Radhey Sham, a wheat trader.

Prices have been ruling firm since last week and may continue to rule around current levels for the next few days, too, he added.

Food Corporation of India has not resumed sales under the open market scheme yet and it is unlikely to see any major alteration in prices until FCI resumes its sales, said Radhey Sham.

In the physical market, around 55 tonnes of dara variety from Uttar Pradesh were directly offloaded at the mills.

Mill delivery was at Rs 1,540-1,545 a quintal while chakki was Rs 1,550. Similarly, Desi varieties ruled flat amid slack trading and quoted at Rs 2,050-2,200. On the National Commodity and Derivatives Exchange, November delivery increased by Rs 25 and traded at Rs 1,635, it had touched a high at Rs 1,660 earlier on Thursday. December contracts went up by Rs 11 to Rs 1,596. Spot prices went down by Rs 5 and traded at Rs 1,560.

Flour Prices

With a steady trend, flour prices were unchanged at Rs 1,750. Chokar was up by Rs 100 on strong demand and sold at Rs 1,400. MMTC has issued a global tender to export one lakh tonnes of wheat for shipments in January.

(This article was published on November 15, 2012)
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