# Wheat remains weak on higher supply, rice basmati eases

> Wholesale wheat prices in India fell Rs 100 a quintal on ample stocks and improved supplies. Basmati rice also weakened on muted demand, and the government doubled the open-market wheat auction to 14,000 tonnes to check prices.

- Date: 2016-11-23 · published 2016-11-23T12:00:00.000Z
- Category: market · region India · magnitude low
- Page: https://feedsoft.ai/events/73833-wheat-remains-weak-on-higher-supply-rice-basmati-eases
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

Ample Indian wheat supplies and weak basmati demand point to softer Indian grain prices. Government auctions aimed at cooling prices add supply that limits upside for global wheat.

## Read by commodity

- RICE: bearish ▼
- WHEAT: bearish ▼

## Sources

- business-standard.com: https://www.business-standard.com/article/pti-stories/wheat-remains-weak-on-higher-supply-rice-basmati-eases-116112300465_1.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.