NCDEX wheat ends down as govt ups 2016-17 output view.

Wheat futures on the National Commodity and Derivatives Exchange ended down as the government raised its estimate for the country wheat output in the current crop year ending June. The most-active June contract on the NCDEX ended down 0.6% from the previous close. The rise in output may be attributable to higher acreage, good soil moisture and favourable weather conditions. Arrivals in Rajasthan Kota market also fell due to rainy weather and lifted prices of mill quality wheat up 5-10 rupees from previous day. In benchmark Indore market, mill quality wheat sold up 5-10 rupees from previous close.