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Wheat futures extend gain, up 0.40% on spot demand

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Press Trust of India New Delhi
Last Updated : Oct 28 2016 | 4:57 PM IST
Extending gains for the fourth day, wheat prices rose by another 0.40 per cent to Rs 1,985 per quintal in futures market today as participants engaged in enlarging their positions, driven by increased demand in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in December month went up by Rs 8, or 0.40 per cent to Rs 1,985 per quintal with an open interest of 5,710 lots.
On similar lines, the wheat for delivery in November contracts edged up by Rs 2, or 0.10 per cent to Rs 1,962 per quintal in 10,640 lots.
Analysts said widening of positions by traders following pick up in demand from flour mills in the spot market against tight stocks position on fall in supplies, mainly kept wheat prices higher at futures trade.

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First Published: Oct 28 2016 | 4:57 PM IST

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