Wheat futures edge up 0.29% on speculative buying

Wheat prices were up 0.29 per cent to Rs 1,727 per quintal in futures market today as speculators built up fresh bets, taking positive cues from the spot market on uptick in demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in February rose by Rs 5, or 0.29 per cent to Rs 1,727 per quintal with an open interest of 800 lots.
Similarly, wheat for delivery in January contracts edged up by Rs 2, or 0.12 per cent to Rs 1,699 per quintal in 7,220 lots.
Analysts said fresh positions created by traders due to pick-up in demand from flour mills in the physical market amid a pause in arrivals mainly influenced wheat prices in futures trade.