Wheat futures rise 0.44% on uptick in demand

Wheat prices moved up by 0.44 per cent to Rs 1,588 per quintal in futures market today as speculators enlarged positions following pick up in demand at the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in May went up by Rs 7, or 0.44 per cent, to Rs 1,588 per quintal, with an open interest of 7,570 lots.
Likewise, the wheat for delivery in June traded higher by Rs 5, or 0.31 per cent, to Rs 1,615 per quintal in 17,150 lots.
Analysts said widening of position by traders due to upsurge in demand from flour mills in the spot market mainly led to the rise in wheat prices at futures trade.