Wheat futures rise 1.07% on increased demand

Wheat prices rose by 1.07 per cent to Rs 1,796 per quintal in futures market today as speculators raised bets amid pick up in demand in the spot market. At the National Commodity and Derivatives Exchange, wheat for delivery in March was trading higher by Rs 19, or 1.07 per cent, at Rs 1,796 per quintal with an open interest of 6,910 lots. Analysts said widening of positions by participants on the back of pick up in demand from flour mills in the physical market amid a pause in arrivals led to rise in wheat prices in futures trade.