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Buoyed by increased demand from flour mills at the spot markets, wheat prices recovered by 0.42 per cent as speculators created fresh positions.
At the National Commodity and Derivatives Exchange, wheat for July delivery rose by Rs 5 or 0.42 per cent to Rs 1,197 per quintal with an open interest of 18,440 lots.
Similarly, wheat for June delivery gained Rs 2.80 or 0.24 per cent to Rs 1,173 per quintal with an open interest of 21,720 lots.
Analysts said pick-up in demand from flour mills at the spot markets, helped wheat prices to recover at futures trade but reports of record procurement of wheat by the government, coupled with an all-time high production of the rabi crop, restricted gains.
Meanwhile, wheat procurement in the country broke a record with 26.43 million tonnes purchases so far.
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