MUMBAI(Commodity Online): Wheat futures fell Friday on profit booking by the speculators due to rising concerns on higher production in next season.
Spot market activities will continue to remain sluggish as the major physical markets will remain closed during this week due to Diwali festival.
At NCDEX wheat November contract is trading at Rs.1090 per quintal, lower by 1.73% against the previous close.
In the early session the contract traded at a range of Rs.1107-1076 per quintal. Open interest of the contract is 31840 lots and volume traded is 5650 lots for the time being.
Hike in the Minimum Support Prices (MSP) by around 15 per cent to Rs.1285 per quintal might have a positive impact over market sentiments supporting them to trade higher.
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