NCDEX wheat up nearly 1% as spot market arrivals fall on 18 June.

Wheat futures on the National Commodity and Derivatives Exchange ended higher as arrivals in spot markets have started falling. Wheat arrivals in major markets are now on a decline as harvesting has almost ended and the government has purchased a large share of the crop. Most of the farmers have sent their crop to the government due to higher support price this year. For 2017-18 (Jul-Jun), the government expects wheat output at a record high of 98.6 mln tn, but trade sources estimate the number to be much lower, at 92 mln tn, due to a fall in acreage.