Wheat yesterday traded with the positive node and settled 0.12% up at 1312. In Delhi wheat prices dropped- 1.05 rupee to end at 1311.05 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1310 after opening at 1312, and finally settled at 1312. For today's session market is looking to take support at 1310.5, a break below could see a test of 1308.9 and where as resistance is now likely to be seen at 1313.1, a move above could see prices testing 1314.1. Spread between Wheat JAN & FEB contracts yesterday ended at 11.80. Spread yesterday traded in the range of 9.2 to 11.8.

Trading Ideas:

Wheat trading range is 1308.9-1314.1.

Wheat yesterday traded with the positive node and settled 0.12% up

Wheat is having resistance at 1315.1 and support at 1308.5 level.

Spread between Wheat JAN & FEB contracts yesterday traded in the range of 9.2 to 11.8.

In Delhi wheat prices dropped-1.05 rupee to end at 1311.05 rupees per 10 kg.