Steady demand keeps wheat unchanged

Our Correspondent Karnal | Updated on April 29, 2014 Published on April 29, 2014

Wheat arrivals dropped to just around 40,000 bags at the Karnal grain market terminal on Tuesday against the arrivals of 70,000 bags till last weekend.

Quality of the stock was medium and Government agencies and private traders made the procurement.

In the physical market, steady domestic demand and arrivals kept dara wheat and flour prices unchanged. Dara wheat sold at ₹1,490-95 a quintal. Around 1,500 bags of wheat arrived and stocks were directly offloaded at the mills. Mill delivery was at ₹1,490, while delivery at the chakki was at ₹1,495 a quintal.

Radhey Shayam, a trade expert, told Business Line that steady domestic demand for flour is keeping dara wheat firm. Prices are unlikely to change much over the next few days.

A steady trend was witnessed on the National Commodity and Derivatives Exchange. May contracts dropped by ₹2 and traded at ₹1,544 a quintal with an open interest of 10,940 lots. June contracts moved up by ₹1 and traded at ₹1,579 a quintal with an open interest of 8,710 lots.

Following a steady trend in wheat, flour too ruled flat at ₹1,725. Similarly, Chokar was unchanged at ₹1,210 a quintal.

Published on April 29, 2014

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