Wheat futures up 0.31% on spot demand

Wheat prices were up by 0.31 per cent to Rs 1,632 per quintal in futures trade today as speculators built up fresh position, driven by pick up in demand in the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery September edged higher by Rs 5, or 0.31 per cent to Rs 1,632 per quintal with an open interest of 320 lots.

Analysts said fresh positions created by traders due to pick up in demand from flour mills in the physical market, mainly influenced wheat prices at futures trade.