Wheat futures gain 0.89% on pick up in demand

Wheat prices moved up by 0.89 per cent to Rs 2,037 per quintal in futures trade today as speculators built up fresh positions driven by uptick in demand at the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in December month traded higher by Rs 18, or 0.89 per cent to Rs 2,037 per quintal with an open interest of 8,000 lots.
Analysts said speculative positions created by traders amid pick up in demand from flour mills in the spot market helped wheat prices to trade higher at futures trade.