Wheat prices rose by 2.34 per cent to Rs 1,703 per quintal in futures trade today as participants widened their belts, driven by pick-up in demand in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in far-month June rose by Rs 39, or 2.34 per cent to Rs 1,703 per quintal, with an open interest of 2,020 lots.
On similar lines, wheat for delivery in May went up by Rs 37, or 2.26 per cent, to Rs 1,672 per quintal in 11,160 lots.
Analysts said speculative positions built up by traders due to pick-up in demand in the spot market led to the rise in wheat prices at futures trade.
(Source – http://www.business-standard.com/article/pti-stories/wheat-rises-2-34-in-futures-trade-116041800517_1.html)