After an initial rally last month, wheat prices have come under pressure due to record-level production and significant purchases by the central pool, which is nearing 30 million metric tons. As a result, traders across markets have started selling, pushing prices down. Last year, the prices of these two mill-quality wheat varieties were around ₹2,870–2,880 per quintal, whereas currently they are ₹2,810–2,820 per quintal. During this Diwali, prices are about ₹300 lower per quintal compared to last year. In January, wheat had reached ₹3,350 per quintal, meaning that compared to those highs, wheat is about ₹550 cheaper this Diwali. However, flour, maida, and sooji are not yet cheaper for consumers. With sufficient stocks in both government and private central pools and good rainfall, there is no expectation of a major rally until December. The favorable weather and higher sowing last season resulted in a production of around 115.3 million metric tons, approximately 5 million metric tons more than last year. Coupled with government procurement of about 29.87 million metric tons, there is little reason for a sharp price rise this year. Recent heavy rains and floods in various states have accelerated the release of existing stocks. Moreover, with increased rainfall, the upcoming wheat crop is expected to be larger. Local demand for flour, maida, and sooji for household consumption has decreased, leading to a drop of ₹30–40 per quintal in the past 8–10 days, bringing prices to ₹2,810–2,830 per quintal. Prices of flour, maida, and sooji have also fallen by ₹10–20 per 50 kg. Recently, the government expanded two schemes: under the OMSS, wheat will be sold through tenders at a reserve price of ₹2,550 per quintal, similar to post-July sales in previous years. Under the second scheme, about 5 lakh metric tons of India Brand atta (5 kg packs) will be sold, with around 1 lakh metric tons already dispatched. These schemes coming into effect have eliminated expectations of a major price rally until the new crop. The central pool still holds ample wheat stocks, which will continue to be sold via tenders until the new crop arrives. Even with these sales, there will be no significant reduction in central pool stocks. Future price movements will largely depend on government sale policies. Currently, there is no shortage of wheat in the country, and stocks held by traders, both large and small, are also being released into the market.