Wheat futures traded Rs 4.80, or 0.38 per cent higher, to Rs 1,262 per 100 kg after speculators built up fresh positions on hopes that the government may ease and allow export of the commodity.
At the National Commodity and Derivatives Exchange platform, wheat for delivery in December contract moved up by Rs 4.80, or 0.38 per cent, to Rs 1,262 per 100 kg, with an open interest of 9,380 lots.
Similarly, wheat for delivery in September contract was up by 20 paisa, or 0.02 per cent, to Rs 1,203 per 100 kg, with an open interest of 14,070 lots.
Analysts said expectations that the government may ease exports and increased demand from flour mills, helped the wheat futures to rise.