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As on: Nov 19, 2018 11:30 PM
Spot Market Update: Wheat Stays Elevated In Delhi
12-Jul-18   16:50 Hrs IST
Bullish trend prevailed in wheat market on weak global production and strong offtake by millers. The spot prices of wheat increased were around Rs 1890 quintal in Delhi, up marginally on the day. Robust gains were seen in other north Indian mandies. Global sentiments are positive. The latest update from International Grains Council (IGC) stated that the the global wheat production in 2018-19 is forecast at 737 million tonnes, down from 742 million tonnes in late May and compared with 758 million tonnes forecast for 2017-18. Consumption also was forecast lower, at 743 million tonnes compared with 746 million tonnes a month ago. The IGC forecast 2017-18 global wheat consumption at 738 million tonnes.

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