High supply drag down wheat prices in Indore, Delhi.

Wheat prices fell in the benchmark markets of Indore, Madhya Pradesh and Delhi due to abundant supply. In Indore, wheat was sold down 50 rupees from previous close. while in Delhi, prices were down 20 rupees at previous close. Around 600,000 bags (1bag=100kg) of wheat arrived in Madhya Pradesh up from 450,000 bags. In Indore arrivals were at 40,000 bags. In Delhi, around 30,000 bags arrived. Uttar Pradesh and Haryana, almost double the number of bags that arrived. In Kota’s wholesale market in Rajasthan, prices fell by 5-10 rupees due to high arrivals in markets. Supplies in Rajasthan are already at their peak and about 150,000 bags of wheat arrive in the market daily wheat prices fell also on the National Commodity and Derivatives Exchange.