Wheat futures harden by 0.56% on speculative buying

Wheat prices rose by 0.56 per cent to Rs 1,982 per quintal in futures market today as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in September went up by Rs 11, or 0.56 per cent, to Rs 1,982 per quintal with an open interest of 2,100 lots.

Similarly, the wheat for delivery in August contracts edged up by Rs 3, or 0.15 per cent, to Rs 1,975 per quintal in 5,500 lots.

Analysts said fresh positions created by traders due to improved demand in the physical market and a pause in arrivals from producing belts, mainly attributed the rise in wheat prices in futures trade.