Spot Market Update: Wheat Trades Higher On Good Demand

Strong offtake by flour millers has augmented prices in wheat market. The spot prices of wheat declined by Rs 5 per quintal at Delhi Mandi. According to the latest update from United States Department of Agriculture (USDA), 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.