The rate jumped to 436.25 euros (Rs 35,401.81) per tonne, up by 4.68%, during the intraday trade in the European market.
Wheat prices rose globally on Monday days after India banned its exports to control the domestic rates of the crop, reported AFP. In the European market, the price of wheat rose to 436.25 euros (Rs 35,401.81) per tonne, up by 4.68% during the intraday trade. The price of wheat futures climbed by 5.9% to $12.47 half a bushel (9.31 kg) in Chicago, the highest in two months, reported ThePrint. Futures are financial contracts that allow parties to buy or sell an asset at a predetermined date and price. The parties must buy or sell the asset at the set price on the expiration date regardless of the then market rate.
