Wheat prices inched up by 0.50 per cent to Rs 1,614 per quintal in futures trade today as speculators built up fresh positions amid uptick in demand in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in July rose by Rs 8, or 0.50 per cent, to Rs 1,614 per quintal, with an open interest of 25,360 lots.
Analysts attributed the rise in wheat futures to fresh positions created by traders due to pick up in demand from flour mills in the physical market amid pause in supplies.
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