Wheat yesterday traded with the negative node and settled -0.05% down at 1280. In Delhi wheat prices dropped -1.6 rupee to end at 1300.9 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1276.2 after opening at 1280.2, and finally settled at 1280. For today's session market is looking to take support at 1276.8, a break below could see a test of 1273.6 and where as resistance is now likely to be seen at 1282.6, a move above could see prices testing 1285.2. Spread between Wheat DEC & JAN contracts yesterday ended at 28.00. Spread yesterday traded in the range of 21 to 29.8.

Trading Ideas:

Wheat trading range is 1273.5-1285.1.

Wheat yesterday traded with the negative node and settled -0.05% down

Wheat is having resistance at 1284.6 and support at 1276.8 level.

Wheat DEC & JAN contracts yesterday traded in the range of 21 to 29.8.

In Delhi wheat prices dropped-1.6 rupee to end at 1300.9 rupees per 10 kg.