Wheat futures rise 0.45 pc on spot demand

Wheat futures traded higher by 0.45 per cent to Rs 2,028 per quintal today as speculators built up fresh positions driven by pick-up in demand at the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in December went up by Rs 9, or 0.45 per cent to Rs 2,028 per quintal with an open interest of 9,280 lots.

Similarly, the wheat for January 2017 was trading higher by Rs 5, or 0.24 per cent to Rs 2,063 per quintal in 3,210 lots.

Analysts said speculative positions created by traders amid uptick in demand from flour mills in the spot market led to the rise in wheat prices at futures trade.