Wheat prices gained 0.24 per cent to Rs 1,654 per quintal in futures trade today as speculators built up fresh positions amid pick-up in demand in the spot market. At the National Commodity and Derivatives Exchange, wheat for delivery in far-month August rose by Rs 4, or 0.24 per cent, to Rs 1,654 per quintal with an open interest of 1,620 lots. Likewise, wheat for delivery in July contracts traded higher by Rs 3, or 0.18 per cent, to Rs 1,630 per quintal in 24,220 lots. Analysts attributed the rise in wheat futures to fresh positions created by traders due to uptick in demand from flour mills in the physical market amid a halt in supplies.
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