Wheat futures remain up, gain 0.80% on rising demand

New Delhi: Rising for the second day, wheat prices advanced by 0.80 per cent to Rs 1,896 per quintal in futures trade today as speculators engaged in enlarging their bets, driven by rising demand in the spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in January gained Rs 15, or 0.80 per cent, to Rs 1,896 per quintal, with an open interest of 3,040 lots.

On similar lines, the wheat for delivery in February edged up by Rs 2, or 0.11 per cent, to Rs 1,883 per quintal in 2,260 lots.

Analysts said widening of positions by traders following pick up in demand from flour mills in the physical market amid pause in supply, mainly kept wheat prices higher at futures trade.