Wheat futures surge 1.61 pc on rising demand

Wheat prices were up by 1.61 per cent to Rs 1,891 per quintal in futures market today as speculators built up fresh positions driven by uptick in demand at the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in January shot up by Rs 30, or 1.61 per cent to Rs 1,891 per quintal with an open interest of 3,290 lots.
Likewise, the wheat for delivery in February was trading higher by Rs 4, or 0.21 per cent to Rs 1,871 per quintal in 3,240 lots.
Analysts said, speculative positions created by traders amid upsurge in demand from flour mills in the spot market helped wheat prices to trade higher at futures trade.