Wheat futures extend gain, climb 1.90% on rising demand

Wheat prices climbed by 1.90 per cent to Rs 2,144 per quintal in futures market today as participants engaged in widening their bets on the back of surging demand in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in far-month January 2017 gained Rs 40, or 1.90 per cent to Rs 2,144 per quintal with an open interest of 1,680 lots.
On similar lines, the wheat for delivery in December contracts moved up by Rs 35, or 1.67 per cent to Rs 2,125 per quintal in 11,030 lots.
Analysts said enlarging of positions by traders on the back of strong demand from flour mills in the spot market mainly kept wheat prices higher at futures trade.