Wheat prices rise by 0.59% in futures trade

Wheat went up by 0.59 per cent to Rs 1,867 per quintal in futures trade today as speculators built up fresh positions driven by pick-up in demand at the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in February rose by Rs 11, or 0.59 per cent to Rs 1,867 per quintal with an open interest of 5,070 lots.
Similarly, the wheat for delivery in March contracts was trading higher by Rs 5, or 0.28 per cent to Rs 1,764 per quintal in 1,200 lots.
Analysts said speculative positions created by traders amid uptick in demand from flour mills in the spot market led to the rise in wheat prices at futures trade.