Wheat futures up 0.50% on speculative buying

Wheat prices went up by 0.50 per cent to Rs 2,000 per quintal in futures market today as speculators built up fresh positions.

At the National Commodity and Derivatives Exchange, wheat for delivery in October moved up by Rs 10, or 0.50 per cent to Rs 2,000 per quintal with an open interest of 590 lots.

Analysts said fresh positions created by traders after the uptick in demand in the physical market and a pause in arrivals from producing belts influenced wheat prices in futures trade.