India: Wheat plunges on higher arrivals

Wheat yesterday traded with the negative node and settled -0.64% down at 1153 as arrivals gained momentum in all the major producing states. Moreover, government has set a record wheat production target of 81.47 million tonnes in 2010-11 against 80.8 million tonnes in the previous year. This might also add some selling in the wheat market. The major producing states of wheat such as Punjab,

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