Wheat futures gain 0.39% on speculative buying

Wheat prices were higher by 0.39 per cent to Rs 2,060 per quintal in futures market Monday as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in October was trading higher by Rs 8, or 0.39 per cent, to Rs 2,060 per quintal with an open interest in 2,780 lots.

Analysts said fresh positions created by traders after improved demand in the physical market amid a pause in arrivals from producing belts, helped wheat prices to trade higher in futures trade.