New Delhi, July 15 Wheat futures declined further by 1.23 per cent on the Multi Commodity Exchange (MCX) today as traders refrained from enlarging their positions following adequate stock positions in the spot markets after the government imposed a ban on wheat export.
Wheat for delivery in July contract dipped by 1.23 per cent at Rs 1,120 per quintal with a business turnover of 86 lots. It had lost 291 per cent lower in previous trading. Similarly, wheat for delivery in August contract slipped by 0.89 per cent to Rs 1,141 per quintal with a turnover of 225 lots.
Market analysts say the government imposing a ban on 9 lakh tonnes of wheat export ten days after easing the ban on overseas shipment of the foodgrain influenced trading in futures as well as pysical trading. The government slapped a ban on the export of wheat and wheat products in 2007 to boost domestic supply. (Source: Indopia)
Wheat for delivery in July contract dipped by 1.23 per cent at Rs 1,120 per quintal with a business turnover of 86 lots. It had lost 291 per cent lower in previous trading. Similarly, wheat for delivery in August contract slipped by 0.89 per cent to Rs 1,141 per quintal with a turnover of 225 lots.
Market analysts say the government imposing a ban on 9 lakh tonnes of wheat export ten days after easing the ban on overseas shipment of the foodgrain influenced trading in futures as well as pysical trading. The government slapped a ban on the export of wheat and wheat products in 2007 to boost domestic supply. (Source: Indopia)
