Wheat yesterday traded with the positive node and settled 0.23% up at 1294.4 tracking firm spot market demand. Farm ministry data shows wheat acreage was lagging about 30 per cent from a year ago at 7.08 million hectares until last week. Sowing has been lacklustre despite good monsoon rain that had made the government confident of India reaping a record 82 million tonnes harvest this year. In Delhi wheat prices gained 2.1 rupee to end at
1292.15 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1287.4 after opening at 1292, and finally settled at 1294.4. For today's session market is looking to take support at 1289.2, a break below could see a test of 1284 and where as resistance is now likely to be seen at 1297.8, a move above could see prices testing 1301.2.

Wheat trading range is 1284-1301.2.

Wheat ended positive tracking firm spot market demand

Wheat is having resistance at 1297.8 and support at 1289.2 level.

wheat acreage was lagging about 30% from a year ago at 7.08 million hectares until last week

In Delhi wheat prices gained2.1 rupee to end at 1292.15 rupees per 10 kg.