Wheat prices fall in spot, futures as supplies increase.

Prices of wheat fell in both spot and futures markets as supplies across the country are rising and demand from bulk buyers is weak. In Indore, new crop arrivals had started last month, supplies are rising each day and prices are getting lower. About 8,000-10,000 bags (1bag=100kg) of wheat arrived in Indore, up from 7,000-8,000 bags. To support falling prices, Madhya Pradesh govt will start procuring wheat from farmers at a MSP from March15.