Wheat futures traded higher by Rs 16 to Rs 1,710 per quintal in futures trade today as speculators built up fresh positions, triggered by pick up in demand in the spot market amid pause in supplies.
At the National Commodity and Derivatives Exchange, wheat for delivery in July rose by Rs 16, or 0.94 per cent, to Rs 1,710 per quintal, with an open interest of 5,340 lots.
On similar lines, the wheat for delivery in June traded higher by Rs 14, or 0.84 per cent, to Rs 1,679 per quintal in 15,280 lots.
Analysts said speculative positions created by traders due to pick-up in demand from flour mills in the spot market amid decline in supplies from producing regions, led to the rise in wheat prices at futures trade.
