Wheat: uptrend may sustain - 19 May, 2016

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Wheat output is expected to be about 915 lakh tonne compared to the earlier estimation of 940 lakh tonne. The procurement for central pool is still 28 lakh tonne low compared to the last year. While in the current marketing season, about 227 lakh tonne of wheat has been bought so far. Today, the market witnessed a hike of Rs 10 / 15 due to thin arrivals. Wheat from Mathura - Agra line sold at Rs 1700 for Delhi reach. In Delhi wheat with average quantity was quoted at Rs 1690, but the stock is not getting in a big quantity. Seeing this, wheat can sustain its rally in the coming days.

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