Wheat futures gain 1.45% on speculative buying

Wheat prices were up 1.45 per cent to Rs 1,750 per quintal in futures market today as speculators built up fresh bets, taking positive cues from the spot market on pick-up in demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in April rose by Rs 25, or 1.45 per cent, to Rs 1,750 per quintal with an open interest of 470 lots.
Likewise, the wheat for delivery in March contracts edged up by Rs 3, or 0.17 per cent, to Rs 1,770 per quintal in 6,940 lots.
Analysts said fresh positions created by traders due to pick-up in demand in the physical market amid a pause in arrivals, influenced wheat prices in futures trade.