Wheat futures trade higher 0.48% on speculative buying

Wheat prices went up by 0.48 per cent to Rs 1,675 per quintal in futures market today as speculators built up fresh bets, taking a positive cue from the spot market following uptick in demand.

At the National Commodity and Derivatives Exchange, wheat for delivery in November rose Rs 8, or 0.48 per cent, to Rs 1,675 per quintal with an open interest of 7,810 lots.

Wheat for delivery in October contracts edged up by Rs 7, or 0.43 per cent, to Rs 1,650 per quintal in 6,260 lots.

Analysts said fresh exposure from traders after pick-up in demand from flour mills in the physical market amid a pause in arrivals largely influenced wheat prices in futures trade.

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