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Wheat futures marginally up on spot demand

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Press Trust of India New Delhi
Last Updated : Jan 20 2013 | 1:11 AM IST

In a range-bound trading, wheat futures rose marginally by Rs 1.20, or 0.09 per cent, to Rs 1,270.80 per 100 kg, supported by a firm demand at spot markets.

However, ample stocks at spot markets followed by bumper crops, restricted gains.

At the National Commodity and Derivatives Exchange counter, wheat for delivery in October contract moved up by Rs 1.20, or 0.09 per cent, to Rs 1,270.80 per 100 kg, with an open interest of 18,220 lots.

Wheat for delivery in September contract also edged higher by Rs 0.40, or 0.03 per cent, to Rs 1,253 per 100 kg, with an open interest of 29,710 lots. It ended 0.13 per cent higher at Rs 1,252.60 per 100 kg in yesterday's trade.

Analysts said rise in wheat futures was attributed to pick up in demand at spot markets from flour mills and stockists but a bumper crop and adequate stocks at the physical markets, limited upside.

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First Published: Aug 20 2010 | 2:15 PM IST

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