Spot Market Update: Wheat Eases On Fresh Supplies

New arrivals of wheat in major producing states have kept selling pressure on in wheat market. As per official sources, the output could touch near last years record level of 98.51 million tonne (MT) owing to better yields. Last month, Agriculture Ministry in its second advance estimate, projected wheat output to be lower by 1.42% to 97.11 MT in the current crop year ending June due to four per cent fall in acreage.