Wheat futures up 0.39 pc on hopes of export demand

NEW DELHI: Wheat futures prices today rose by 0.39 per cent to Rs 1,550 per quintal, after speculators created huge positions anticipating a rise in export demand.

At the National Commodity and Derivatives Exchange, wheat for delivery in February edged up by Rs 6, or 0.39 per cent, to Rs 1,550 per quintal in an open interest of 6,200 lots.

The wheat for delivery in March gained Rs 5, or 0.34 per cent, to Rs 1,481 per quintal, having an open interest in 7,400 lots.

Marketmen said besides, increased demand from flour mills at spot markets, speculative positions created by participants on hopes that export demand may rise following a recent surge in prices in global markets, influenced wheat prices at futures trade.