Wheat futures strengthen by 1.15% on positive spot cues

Wheat prices advanced by 1.15 per cent to Rs 2,030 per quintal in futures trade Wednesday as speculators raised their positions, taking positive cues from the spot market on rising demand.

At the National Commodity and Derivatives Exchange, wheat for delivery in September was trading higher by Rs 23, or 1.15 per cent, to Rs 2,030 per quintal with an open interest of 510 lots.

Analysts said expansion of positions by traders following pick up in demand in the physical market and a pause in arrivals from producing belts kept wheat prices higher in futures trade.

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