Wheat moves up by 0.24% in futures trade on increased demand

Wheat futures traded higher by 0.24 per cent to Rs 2,123 per quintal today as traders raised their bets, driven by upsurge in demand in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in December month edged up by Rs 5, or 0.24 per cent to Rs 2,123 per quintal with an open interest of 11,130 lots.
Likewise, the wheat for delivery in far-month January traded higher by Rs 4, or 0.19 per cent to Rs 2,143 per quintal in 2010 lots.
Analysts said increasing of positions by participants following uptick in demand from flour mills in the spot market mainly led to rise in wheat prices at futures trade.