Wheat prices edged up by 0.40 per cent to Rs 1,745 per quintal in futures market today as speculators built up fresh positions, triggered by tight supply from producing regions at spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in August month inched up by Rs 7, or 0.40 per cent to Rs 1,745 per quintal with an open interest of 30,950 lots.
Similarly, the wheat for delivery in Sepcember contracts was trading higher by a similar margin to Rs 1,771 per quintal in 4,390 lots.
Anlsyts said speculative positions built up by traders, driven by tight stocks position on fall in arrivals in the physical market against uptick in demand from flour mills helped wheat prices to trade higher at futures trade.
