Wheat futures gain on rising demand

NEW DELHI, July 5: Wheat prices advanced by 0.27 per cent to Rs 1,841 per quintal in futures trading today as speculators raised bets on the back of pick up in demand at the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in July rose by Rs 5, or 0.27 per cent, to Rs 1,841 per quintal with an open interest of 4,630 lots.
Likewise, the wheat for delivery in August contracts gained Rs 4, or 0.22 per cent, to Rs 1,854 per quintal in 5,230 lots.
Analysts said expansion of positions by traders due to pick-up in demand in the physical market and a pause in arrivals from producing belts, kept wheat prices higher in futures trade. (PTI)