News
29.05.2009
Wheat futures slide on increased arrivals in spot market
Continuing its losing streak, wheat future prices moved further down up to 1.23 per cent in noon trading on the Multi Commodity Exchange (MCX) today on profit-taking by traders amid increased arrivals in the physical markets.
According to experts, apart from continued profit-taking by traders, increased arrivals of the grain in the physical markets and reports that the Government may not lift ban on the export of wheat and put pressure on the futures prices.
At 1230 hours far month August contract moved down sharply by 1.23 per cent to Rs1,11610 per quintal, shwoing a business volume of one lot at MCX platform.
Similarly, near month June contract slipped by 0.62 per cent to Rs1,09600 per quintal, with the volume of business in 216 lots.
e volume of business in 216 lots.
e volume of business in 216 lots.
