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| Wheat futures surge 0.99% at Rs 1,282.80 per 100 kg |
| Press Trust of India / New Delhi Aug 06, 2010, 16:24 IST |
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 Wheat traded Rs 12.60, or 0.99 per cent, higher at Rs 1,282.80 per 100 kg as speculators indulged in building up positions, on hopes the government may allow exports of the grain to Asian neighbours after Russia temporarily halted export due to a drought.
At the National Commodity and Derivatives Exchange counter, wheat for delivery in September month contract moved up by Rs 12.60, or 0.99 per cent, to Rs 1,282.80 per 100 kg, with an open interest of 25,100 lots.
The grain for delivery in August contract also traded Rs 11.20, or 0.90 per cent, higher at Rs 1,261.80 per 100 kg, with an open interest of 20,780 lots, while delivery in October contract gained Rs 11.20, or 0.87 per cent, at Rs 1,299.60 per 100 kg in an open interest of 9,750 lots.
Market analysts attributed rise in wheat futures to speculations that the government may allow export to Asian countries after Russia temporarily halted exports following a drought.
Besides, a firming trend in overseas market also supported the upside in wheat prices at futures market here, they said.
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