Wheat futures extend gains, up 0.31% on spot demand

Wheat prices advanced by 0.31 per cent to Rs 1,639 per quintal in futures trade today as speculators engaged in building up positions, driven by pick up in demand at the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in August rose by Rs 5, or 0.31 per cent, to Rs 1,639 per quintal, in a business turnover of 5,410 lots.

On similar lines, the wheat for delivery in September was trading higher by Rs 3, or 0.18 per cent, to Rs 1,663 per quintal in 15,170 lots.

Analysts said widening of positions by participants due to pick up in demand from flour mills in the spot market amid pause in supplies, mainly kept wheat prices higher at futures trade.

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