Wheat surges 2.3% on export demand hopes

Wheat futures for March spurted by Rs 34, or 2.34% to Rs 1,485 per quintal in 6,020 lots.

At the National Commodity and Derivatives Exchange, the February contract gained Rs 30, or 1.97%, to Rs 1,550 per quintal in 7,670 lots.

Speculators creating huge positions on expectations of a rise in export demand supported the trade.

Surge in prices in global markets helped the trade here.