Wheat futures extend gain, add 1.01% on increased demand

Wheat prices strengthened by another 1.01 per cent to Rs 1,696 per quintal in futures trade today as speculators engaged in raising belts amid rising demand in the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in November shot up by Rs 17, or 1.01 per cent to Rs 1,696 per kg in business turnover of 8,420 lots.

Similarly, wheat for delivery in October went up by Rs 13, or 0.79 per cent to Rs 1,666 per quintal in 5,500 lots.

Analysts said widening of positions by participants due to rising demand from flour mills in the physical market amid a pause in arrivals, mainly kept wheat prices up in futures trade.

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