Wheat yesterday traded with the negative node and settled -0.02% down at 1308.2 despite of gains in spot market. U. K. wheat area harvested in 2010 rose 9.2 percent to 1.94 million hectares (4.79 million acres), the government's agriculture department said. In Delhi wheat prices gained 4.4 rupee to end at 1306 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1307.8 after opening at 1309, and finally settled at 1308.2. For today's session market is looking to take support at 1307.3, a break below could see a test of 1306.5 and where as resistance is now likely to be seen at
1309.5, a move above could see prices testing 1310.9.

Trading Ideas:

Wheat trading range is 1306.7-1311.1.

Wheat ended flat despite of gains in spot market

Wheat is having resistance at 1312.40 and support at 1304.60 level.

U. K. wheat area harvested in 2010 rose 9.2 percent to 1.94 million hectares

In Delhi wheat prices gained4.4 rupee to end at 1306 rupees per 10 kg.