Wheat futures gain 1.09% as demand picks up

NEW DELHI, May 24: Amid pick up in demand in the spot market and restricted supplies from producing belts, wheat prices traded higher by 1.09 per cent at Rs 1,860 per quintal in futures trade today as speculators raised bets.
At the National Commodity and Derivatives Exchange, wheat for delivery in July rose by Rs 20, or 1.09 per cent, to Rs 1,860 per quintal with an open interest of 2,150 lots.
Similarly, wheat for delivery in June contracts gained Rs 19, or 1.05 per cent, to Rs 1,837 per quintal in 7,440 lots.
Analysts said expanding of positions by traders due to pick up in demand in the physical market amid a pause in arrivals from producing regions attributed to the rise in wheat prices in futures trade. (PTI)


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