Wheat futures traded bearish during the early trade on National Commodity and Derivatives Exchange (NCDEX) Wednesday. Lack of fresh cues in the market along with concerns of record new wheat crop and adequate supplies are weighing upon the market at present that has dragged the wheat prices to quote lower in futures trading.
NCDEX September contract inched down Rs 2.80 at Rs 1,214 per quintal and moved between Rs 1,218-1,213.40 a quintal. Trading volume of the contract recorded at 460. Forward October contract quoted down Rs 2.40 at Rs 1,234 a quintal. The contract traded in the range of Rs 1,238-1,230 a quintal with volume so far recorded 560 tons.