NCDEX Wheat July-2011 delivery contract opened at Rs. 1171.2 per quintal today, a decline of 0.07 per cent against previous settlement.<br><br><br><br> At present NCDEX Wheat July 2011 contract is trading firm at Rs. 1179 per quintal, higher by Rs. 7 per quintal against previous close.<br><br><br><br>The contract has so far traded in the range of Rs. 1168.2-1180.8 per quintal. <br><br>Rise in open interest along with prices indicate that an uptrend is in place and is likely to be sustained. <br><br>Volume of trade has increased to 3610, up by 160 against previous trading day. <br><br><b>NCDEX Wheat July-2011 Futures (10:10 AM IST)</b><br><table border=1 width=630<tr><tr bgcolor=darkgreen><th width=90><font color=white size=2>Last Traded</font></th><th width=90><font color=white size=2>Open</font></th><th width=90><font color=white size=2>High</font></th><th width=90><font color=white size=2>Low</font></th><th width=90><font color=white size=2>Previous Close</font></th><th width=90><font color=white size=2>Volume</font></th><th width=90><font color=white size=2>Open Interest</font></th></tr><tr><td align=center>1179</td><td align=center>1171.2</td><td align=center>1180.8</td><td align=center>1168.2</td><td align=center>1172</td><td align=center>3610</td><td align=center>31570</td></tr></table><br><br><b><u>Price Drivers:</u></b><b><br><br>Bullish Factor :</b><br><br>1) demand from feed meal industries <br> 2) Demands from private trade<br><br><b>Bearish Factor :</b><br><br>1) export unlikely<br>2) Higher procurement<br><br>											<br>											<br>											<br>