Wheat yesterday traded with the negative node and settled -0.08% down at 1288 as traders stayed away from futures despite of gains in spot market. In Delhi wheat prices gained 3.75 rupee to end at
1292.5 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1287.4 after opening at 1290, and finally settled at 1288. For today's session market is looking to take support at
1286.9, a break below could see a test of 1285.9 and where as resistance is now likely to be seen at 1289.5, a move above could see prices testing 1291.1. Spread between Wheat DEC & JAN contracts yesterday ended at 25.60. Spread yesterday traded in the range of 20.6 to 25.6.

Trading Ideas:

Wheat trading range is 1286-1291.2.

Wheat yesterday traded with the negative node and settled -0.08%

Wheat is having resistance at 1292.20 and support at 1283.80 level.

Spread between Wheat DEC & JAN contracts yesterday traded in the range of 20.6 to 25.6.

In Delhi wheat prices gained3.75 rupee to end at 1292.5 rupees per 10 kg.