India Wheat tad up on NCDEX, most spot markets shut.

Wheat futures on NCDEX also edged higher amid absence of cues from key spot markets that were shut on account of Janmashtami. On NCDEX, the September-delivery wheat futures closed at 2,016 rupees per 100 kg, up 12 rupees. Wheat prices are likely to be confined to a narrow range in the coming days as the government has huge inventory of the food grain in its central pool. The government has also raised its estimate for wheat output in 2017-18 to a record high 99.70 mln tn from 98.61 mln tn earlier.