Wheat yesterday traded with the positive node and settled 0.26% up at 1372. The cold weather conditions coupled with sunny days have boosted the prospects of record wheat production of over 300 tonnes this season in Uttar Pradesh. The government may ban wheat product exports in a series of measures to tame spiraling food prices that have fuelled rapid inflation and increased pressure on an embattled ruling Congress party. In Delhi wheat prices gained 36.6 rupee to end at 1400 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1367.2 after opening at 1371.8, and finally settled at 1372. For today's session market is looking to take support at 1365.1, a break below could see a test of 1358.3 and where as resistance is now likely to be seen at 1380.9, a move above could see prices testing 1389.9.

Wheat trading range is 1358.3-1389.9.

The weather concerns have boosted the prospects of record wheat production in Uttar Pradesh.

Wheat is having resistance at 1380.90 and support at 1365.10 level.

Spread between Wheat FEB & MAR contracts yesterday traded in the range of -77.8 to -72.

OVERALL LOOKS WEAK WILL WAIT FOR FRESH ENTRY.

In Delhi wheat prices gained36.6 rupee to end at 1400 rupees per 10 kg.