Wheat futures remain up on tight supply

Amid tight supplies at the spot market against increased demand from flour mills, wheat prices rose further by Rs 4 to Rs 1,798 per quintal in futures trade today as participants widened their positions.
At the National Commodity and Derivatives Exchange, wheat for delivery in November advanced by Rs 4 or 0.22 per cent to Rs 1,798 per quintal with an open interest of 9,490 lots.
Wheat for delivery in December contracts, however, held steady at Rs 1,801 per quintal in 570 lots.
Analysts said besides rising demand from flour mills in the physical market, tight stocks position on fall in supplies mainly kept wheat up at futures trade.