Wheat futures edge higher 0.24% on spot demand

Wheat prices edged up by 0.24 per cent to Rs 1,645 per quintal in futures trade today as speculators built up fresh positions, taking positive cues from spot market on upsurge in demand.

At the National Commodity and Derivatives Exchange, wheat for delivery in November month edged higher by Rs 4, or 0.24 per cent, to Rs 1,645 per quintal with an open interest of 7,070 lots.

However, wheat for delivery in October contracts held steady at Rs 1,619 per quintal in 7,230 lots.

Analysts said fresh positions created by traders on the back of rise in demand from flour mills in the physical market amid pause in arrivals, mainly influenced wheat prices at futures trade.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)