Speculative buying lifts wheat futures

Wheat prices edged higher by 0.25 per cent to Rs 2,042 per quintal in futures trade Friday as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in October was trading higher by Rs 5, or 0.25 per cent to Rs 2,042 per quintal with an open interest of 2,610 lots.

Analysts said fresh positions created by traders after uptick in demand in the physical market amid pause in arrivals from producing belts, influenced wheat prices in futures trade.

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