Wheat futures strengthen by 0.44% on positive spot cues

Wheat prices rose further by 0.44 per cent to Rs 1,842 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 July was trading higher by Rs 8, or 0.44 per cent, at Rs 1,842 per quintal with an open interest of 2,930 lots.

Analysts said expanding of positions by traders due to pick up in demand from flour mills in the physical market amid a pause in arrivals from producing belts kept wheat prices higher in futures trade.