Wheat falls on selling pressure

The wheat futures advanced its bearish trend on Saturday due to selling pressure. Higher arrivals across the spot markets and bumper crop expectation at major spot markets kept the prices bearish.
Absence of the buyers across the spot exerted pressure on the market. Full-fledged harvesting of the crop on congenial weather condition also exerted pressure on the market.
Outlook
The wheat futures are projected to trade in very narrow range with a bias towards the down side on Monday. As the weather condition is improving harvesting and threshing of wheat is progressing well in M.P and Gujarat regions.
According to trade sources, harvesting across U.P and Punjab is likely to start towards end of March. Bumper crop expectation in the current year is likely to put pressure on the market.
The estimation of higher production and good quality crop might keep the pressure on the prices for the near term.

(Source: http://www.commodityonline.com/futures-trading/technical/Wheat-falls-on-selling-pressure-22692.html)