Wheat futures rise 0.84 pc on speculative buying

Wheat prices moved up by 0.84 per cent to Rs 1,671 per quintal in futures trade today as speculators built up fresh bets, taking positive cues from the spot market on uptick in demand.
At the National Commodity and Derivatives Exchange, wheat for delivery in December rose by Rs 14, or 0.84 per cent, to Rs 1,671 per quintal with an open interest of 8,530 lots.
Likewise, the wheat for delivery in January was trading higher by Rs 12, or 0.71 per cent, to Rs 1,703 per quintal in 3,040 lots.
Analysts said fresh positions created by traders due to pick-up in demand in the physical market amid a pause in arrivals, mainly influenced wheat prices at futures trade.