Wheat prices rose by 1.23 per cent to Rs 1,733 per quintal in futures market today as speculators built up fresh positions, triggered by tight supply from producing regions at spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in August went up by Rs 21 or 1.23 per cent to Rs 1,733 per quintal with an open interest of 880 lots.
Similarly, the wheat for delivery in September contracts gained Rs 14 or 0.81 per cent to Rs 1,737 per quintal in 19,230 lots.
Analysts said speculative positions built up by traders on the back of tight stocks position due to fall in arrivals in the physical market against pick up in demand from flour mills led to rise in wheat prices at futures trade.
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