Wheat prices rebound 0.31% in futures trade

Wheat prices recovered by 0.31 per cent to Rs 1,642 per quintal in futures market today as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in far-month April edged up by Rs 5, or 0.31 per cent to Rs 1,642 per quintal with an open interest of 4,060 lots.

Analysts attributed the gain in wheat futures to speculative positions created by traders on pick up in demand at the spot markets from flour mills.