Wheat prices fall in Indore spot market on weak demand.

Wheat prices fell in the benchmark Indore market in Madhya Pradesh due to weak demand from bulk buyers and stockists. Prices are falling as there is no demand and the buying capacity has been hit due to demonetisation as there is no money in market. High supplies in the domestic market are further weighing on prices. Wheat supplies are high in the country as there was a bumper output in 2016-17 (Jul-Jun) and imports for the current marketing year have also touched nearly 2 MMT.