Wheat futures edged up by 0.28% on tight supply

Wheat prices edged higher by 0.28 per cent to Rs 1,768 per quintal in futures market today as speculators built up fresh positions, triggered by tight supplies from producing regions at spot market against uptick in demand from flour mills.
At the National Commodity and Derivatives Exchange, wheat for delivery in November month inched up by Rs 5, or 0.28 per cent to Rs 1,768 per quintal with an open interest of 2,100 lots.
Similarly, the wheat for delivery in October contracts traded higher by Rs 3, or 0.17 per cent to Rs 1,755 per quintal in 9,950 lots.
Analysts said speculative positions built up by traders, driven by tight stocks position due to fall in arrivals in the physical market against pick up in demand from flour mills led to rise in wheat prices at futures trade.