Wheat rises by 0.40% on speculative buying

Wheat prices rose by 0.40 per cent to Rs 1,993 per quintal in futures trade today as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in September was trading higher by Rs 8, or 0.40 per cent to Rs 1,993 per quintal with an open interest of 4,010 lots.

Analysts said fresh positions created by traders on improved demand in the physical market amid pause in arrivals from producing belts influenced wheat prices in futures trade.