Spot Market Update: Wheat Trades In Red At Delhi Mandi

Fresh supplies have increased selling pressure in wheat market. The spot prices of wheat declined by Rs 5 per quintal at Delhi Mandi. However, the latest update from United States Department of Agriculture (USDA) says that the global wheat production is projected at 747.8 million tons, down 10.6 million from the previous years record. Most of the year-over-year production decline stems from a 13.0-million-ton reduction for Russia.