New Delhi, December 09 (CommoditiesControl): Wheat prices traded steady to firm across major markets today, buoyed by positive sentiments following higher-than-expected bidding in the latest auction.
In Delhi, wheat was quoted at INR 3080-3100 per quintal, holding steady compared to the previous session. Uttar Pradesh saw a rise of INR 10, with prices at INR 2990 per quintal, while Madhya Pradesh also saw an uptick of INR 10, trading at INR 2970 per quintal. Gujarat followed suit, increasing by INR 10 to INR 2980 per quintal, while Rajasthan prices remained steady at INR 2980 per quintal. Bihar wheat traded higher by INR 10, reaching INR 2980 per quintal, and Kolkata reported a rise of INR 60, with wheat at INR 3240 per quintal. In the South, wheat was up by INR 10, trading at INR 3350 per quintal.
Active buying in key markets, coupled with tight physical supplies at current price levels, supported the upward movement. The Food Corporation of India (FCI) has also announced an auction for 1 lakh tons of wheat on December 11, with similar quantities and terms across various states.
Given the limited quantity in the auction, wheat prices are expected to remain steady to firm in the near term, with market participants anticipating stable conditions ahead.
(By Commoditiescontrol Bureau; +91 98201 3018)
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