Adequate stocks keep wheat, flour unchanged

Steady domestic demand, coupled with easy availability of stocks, kept dara wheat and flour prices unaltered on Friday.

Radhey Shyam, a trade expert, told Business Line that with demand being steady for the dara variety, prices are ruling flat.

In the absence of any major market-moving factors, a steady trend has prevailed in the market, he said.

After witnessing a marginal uptrend last weekend, Dara wheat in the physical market ruled flat and sold at ₹1,455-1,460 a quintal. Around 2,000 bags of wheat arrived and stocks were directly offloaded at the mills.

Mill delivery was at ₹1,455 a quintal while delivery at the chakki was at ₹1,460 a quintal.

A mixed trend was witnessed on the National Commodity and Derivatives Exchange. June contracts moved up by ₹4 to ₹1,511 a quintal with an open interest of 340 lots.

July contracts dropped by ₹1 and traded at ₹1,521 a quintal with an open interest of 14,380 lots. The grain had touched a high at ₹1,525 a quintal earlier in the day. July contracts had some support at ₹1,511 a quintal while resistance at ₹1,527 a quintal.

Following good demand in the region, flour continued to rule firm and sold at ₹1,680 a quintal. Similarly, Chokar was unchanged at ₹1,350 a quintal.