India Grain: Wheat down on firm supply; basmati falls on low demand.

Prices of mill quality wheat fell across key spot markets due to higher supply and weak demand from bulk buyers. In Indore, arrivals were pegged at 6,000 bags (1 bag = 100 kg) compared with 1,000 bags. In Jaipur, arrivals are steady at 3,000 bags compared with 1,000 bags on previous day. Arrivals rose sharply as stockists offloaded old stocks before the fresh crop hits the market. Arrivals of the fresh crop are expected to hit the markets in March.Prices of the grain are likely to fall in the coming days as wheat output in the crop year ending June is seen at a record high.

Insert title here