Wheat futures up 0.61 pc on speculative buying

Wheat prices were trading up by 0.61 per cent to Rs 1,650 per quintal in futures trade today as speculators built up fresh bets after upsurge in demand in the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in January was trading higher by 10, or 0.61 per cent, to Rs 1,650 per quintal with an open interest of 7,760 lots.

Analysts said fresh positions created by traders due to uptick in demand from flour mills in the physical market amid a pause in arrivals mainly influenced wheat prices in futures trade.