Wheat prices moved up by 0.71 per cent to Rs 1,710 per quintal in futures market today as speculators created fresh positions because of fall in supplies at spot market amid increased offtake by flour mills.
At the National Commodity and Derivatives Exchange, wheat for delivery in July rose by Rs 12, or 0.71 per cent to Rs 1,710 per quintal with an open interest of 13,540 lots.
Similarly, the wheat for delivery in June contracts traded higher by Rs 11, or 0.66 per cent to Rs 1,680 per quintal in 12,990 lots.
Marketmen said speculative positions built up by traders, supported by tight arrivals in the physical market against pick-up in demand from flour mills led to rise in wheat prices at futures trade.
