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Wheat futures rise 0.61 pc as demand picks up

Press Trust of India  |  New Delhi 

Wheat prices edged up by 0.61 per cent to Rs 1,650 per quintal in futures trade today as speculators built up fresh positions due to pick up in demand in the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in July rose by Rs 10, or 0.61 per cent to Rs 1,650 per quintal with an open interest of 2,630 lots.

On similar lines, wheat for delivery in June gained Rs 8, or 0.50 per cent, to Rs 1,623 per quintal in 20,730 lots.

Analysts said fresh position created by traders following uptick in demand from flour mills in the spot market mainly led to the rise in wheat prices at futures trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 15 2017. 12:13 IST