Wheat futures gain on spot demand

Wheat prices rose by Rs 8 or 0.50 per cent to Rs 1,606 per quintal in futures trading today on strong advices from physical markets.

At the National Commodity and Derivatives Exchange, wheat for delivery in July month moved up by Rs 8, or 0.50 per cent to Rs 1,606 per quintal with an open interest of 22,370 lots.

Analysts attributed the rise in wheat futures to pick up in demand from flour mills in physical market amid a halt in supplies.