Wheat: outlook not bearish - 10 June, 2016

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Procurement of wheat for central pool has been about 230 lakh tonne so far compared to 275 lakh tonne in the last year. On the other hand arrivals in the producing markets have remained only 20%. Notably, the government planned for the current financial year to sell about 62.50 lakh tonne of wheat in open market including PDS. Seeing this, it is expected to jump by Rs 10 / 15 in the next 1-2 days.

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