Wheat futures gain 0.46% on speculative buying

Wheat prices went up by 0.46 per cent to Rs 1,971 per quintal in futures trading today as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in August was trading higher by Rs 9, or 0.46 per cent to Rs 1,971 per quintal with an open interest of 6,040 lots.

Analysts said fresh positions created by traders following improved demand in the physical market and a pause in arrivals from producing belts, mainly led to rise in wheat prices at futures trade.