Wheat futures gain 0.27% on uptick in demand

New delhi: Wheat prices rose 0.27 per cent to Rs 1,865 per quintal in futures trading today as speculators built up fresh positions driven by upsurge in demand at the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in February edged higher by Rs 5, or 0.27 per cent, to Rs 1,865 per quintal with an open interest of 4,940 lots.

Analysts said speculative positions created by traders after pick up in demand from flour mills at the spot market helped wheat prices to trade higher at futures trade.