Wheat futures extend gains on high demand

NEW DELHI, July 6: Wheat prices strengthened by 0.43 per cent to Rs 1,860 per quintal in futures market today as speculators engaged in building up positions following pick-up in demand in the spot market.
At the National Commodity and Derivatives Exchange, wheat for delivery in July gained Rs 8, or 0.43 per cent, to Rs 1,860 per quintal with an open interest of 3,630 lots.
On similar lines, wheat for delivery in August was trading higher by Rs 4, or 0.21 per cent, to Rs 1,873 per quintal in 5,360 lots.
Analysts said widening of positions by traders due to increased demand from flour mills in the physical market against restricted arrivals from producing belts, kept wheat prices higher in futures trade. (PTI)


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