Wheat futures rise on reports of export

Wheat prices rose by Rs 19 to Rs 1,553 per quintal in futures trade on Friday as speculators created huge positions after government allowed export of 5 million tonnes of the commodity.

At the National Commodity and Derivatives Exchange, wheat for delivery in March month rose by Rs 19, or 1.24 per cent to Rs 1,553 per quintal with an open interest of 4270 lots.

Analysts said speculators created huge positions after reports that the Centre has allowed export of extra 5 million tonne of the grain.