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As the demand and arrivals from Uttar Pradesh were low, wheat prices on Tuesday ruled steady at Rs 1,090-1,100 a quintal.
Following the low arrivals and sluggish domestic demand, wheat prices were range-bound, said Mr Subhash Chander, a wheat trader. The market may continue to rule around current levels even this week, he added. Dara is ruling at Rs 90-100 a quintal below the levels in the corresponding period last year.
A mere 450 quintals of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,100 a quintal.
Wheat prices in August were the lowest of the season. At the end of July, the price was around Rs 1,135. But in August, the the price was at Rs 1,070-1,100 levels and never crossed the Rs 1,100 mark.
On the other hand, after ruling firm for almost 12 days, desi wheat eased by Rs 15-30 a quintal. The Tohfa variety fell by Rs 20 and quoted at Rs 2,130 a quintal, Maruti dropped by Rs 25 to Rs1,775, Lal Quila sold at Rs 1,900 and Kangan at Rs 1,940 a quintal, down by Rs 30 from the previous level.
At the National Commodity and Derivatives Exchange, wheat for September delivery rose by Rs 1.6 to Rs 1,142 a quintal, after hitting a low of Rs 1,139.4 a quintal earlier on Tuesday.
Flour Prices
With a steady trend in wheat, flour remained unchanged and sold at Rs 1,160 for a 90-kg bag. On the other hand, after witnessing a good uptrend last week, choker prices dropped by Rs 10 and quoted at Rs 495 for a 49-kg bag.
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