Wheat prices climb 2.86% in futures trade

New delhi: Wheat prices surged by 2.86 per cent to Rs 1,800 per quintal in futures trade today as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in February jumped up by Rs 50, or 2.86 per cent, to Rs 1,800 per quintal, with an open interest of 1,970 lots.

However, wheat for delivery in March held steady at Rs 1,718 per quintal in 3,130 lots.

Analysts said speculative positions created by traders, taking positive cues from spot market on pick up in demand from flour mills in the spot market amid pause in supply helped wheat prices to trade higher at futures trade