Wheat futures recover 0.50% on speculative buying

Wheat prices recovered by 0.50 per cent to Rs 1,612 per quintal in futures trade today as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in far-month June went up by Rs 8, or 0.50 per cent, to Rs 1,612 per quintal, with an open interest of 16,740 lots.

Likewise, the wheat for delivery in May was up by Rs 6, or 0.38 per cent, to Rs 1,585 per quintal in 7,980 lots.

Analysts attributed the rise in wheat futures to speculative positions created by traders.