Chicago wheat futures dropped on Friday 16/2/2024 for a biggest weekly drop since September 2023 on higher then expected inventories and competition from cheaper Russian Wheat. Rising stocks for coming year put pressure on prices. Russian wheat export prices fell again by $ 4 per ton from the previous week to $ 224 per ton. OMSS sale by FCI in India crossed a record 8.48 million tons. The highest quantity of wheat sold was 8.1 MT in 2018-19 for bulk buyers such as flour millers. To curb prices in India Government is aiming to sell a record 10 MT of wheat by March 15 in this fiscal. According to the news sources. Procurement of Wheat for 2024-25 in India would commence form April 1st, 2024.