Wheat rises 0.18 pc in futures trade on spot demand

Wheat prices were trading marginally higher by 0.18 per cent to Rs 1,664 per quintal in futures trade on 12 July as speculators built up fresh positions, driven by pick-up in demand at spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery in August edged higher by Rs 3, or 0.18 per cent, to Rs 1,664 per quintal with an open interest of 23,060 lots.

Likewise, the wheat for delivery in July was trading higher by Re 1, or 0.06 per cent, to Rs 1,637 per quintal in 3,390 lots.

Analysts said fresh positions created by traders following a firm trend at the spot markets on pick-up in demand from flour mills amid pause in supplies mainly influenced wheat prices at futures trade.

-PTI