Wheat futures extend gain, up 0.42 pc on increased demand

Continuing its rising streak for the third day, wheat prices strengthened by 0.42 per cent to Rs 1,900 per quintal in futures trade today as speculators engaged in enlarging their positions on the back of rising demand in the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in January moved up by Rs 8, or 0.42 per cent to Rs 1,900 per quintal with an open interest of 3,430 lots.

Analysts said, building of positions by traders due to increased demand from flour mills in the physical market, mainly kept wheat prices higher at futures trade.