Wheat yesterday traded with the positive node and settled 0.62% up at 1308 prompted the strong gains in spot market. According to a latest press release from the Ministry Of Agriculture, the data received from States shows that wheat has been sown in 291.80 lakh hectare, up which IS 8.56 lakh hectare or 3% is compared to last year on this date.

The global wheat market is caught between freezing winds and a sirocco. The freeze gripping a swath of the U. S. threatens winter wheat planted in the fall. In Delhi wheat prices gained 3.95 rupee to end at 1340 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1295 after opening at 1297.8, and finally settled at 1308.

For today's session market is looking to take support at 1298.7, a break below could see a test of 1289.3 and where as resistance is now likely to be seen at 1313.7, a move above could see prices testing 1319.3. Trading Ideas: Wheat trading range is 1289.3-1319.3. Wheat ended positive prompted the strong gains in spot market. Wheat is having resistance at 1313.70 and support at 1298.70 level. India wheat sowing area until feb 4 up 3% at 29.18 mln hectares In Delhi wheat prices gained3.95 rupee to end at 1340 rupees per 10 kg.