Wheat prices rose by 1.39 per cent to Rs 1,896 per quintal in futures trading today as speculators built up fresh positions, triggered by tight supplies at spot market against uptick in demand from flour mills.
At the National Commodity and Derivatives Exchange, wheat for delivery in November month shot up by Rs 26, or 1.39 per cent, to Rs 1,896 per quintal with an open interest of 11,550 lots.
Likewise, the wheat for delivery in December month contracts were trading higher by Rs 23, or 1.21 per cent to Rs 1,918 per quintal in 1,990 lots.
Analysts said speculative positions built up by participants, driven by tight stocks position following fall in arrivals in the physical markets against pick up in demand from flour mills led to rise in wheat prices at futures trade.
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