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Wheat futures extend gain, up 0.74% on increased demand

Press Trust of India  |  New Delhi 

Rising for the second day, wheat prices advanced by 0.74 per cent to Rs 1,637 per quintal in futures market today as speculators enlarged positions, driven by rising demand in the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in August rose by Rs 12, or 0.74 per cent to Rs 1,637 per quintal with an open interest of 350 lots.

Likewise, the wheat for delivery in July contracts edged up by Rs 2, or 0.12 per cent to Rs 1,620 per quintal in 25,100 lots.

Analysts said widening of positions by speculators, driven by rising demand from flour mills in the physical market, mainly kept wheat prices higher.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 15 2017. 12:22 IST