Wheat futures extend gain on rising demand

Wheat prices advanced by 0.23 per cent to Rs 1,779 per quintal in futures market today as speculators engaged in enlarging their positions, driven by increased demand from mills in the physical market against tight supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in November month rose by Rs 4, or 0.23 per cent to Rs 1,779 per quintal with an open interest of 8750 lots.
Analysts said increasing of positions by speculators on the back of pick up in demand from flour mills in the physical market amid pause in supplies mainly kept wheat higher at futures trade.