Wheat futures down on supply pressure

At the National Commodity and Derivatives Exchange,wheat for delivery in July fell by Rs 10,or 0.84 per cent,to Rs 1178 per quintal,with an open interest for 32,690 lots.

Similarly,wheat for delivery in August lost Rs 10,or 0.82 per cent,to Rs 1,205 per quintal in 14,710 lots.

Analysts said supply pressure in the spot market following new crop arrivals mainly influenced wheat futures prices.

In addition,reduced offtake from flour mills also influenced the trading sentiment to some extent,they said.