Wheat yesterday traded with the positive node and settled 0.02% up at 1331.2. Indian farmers have so far cultivated wheat on 26.4 million hectares, up 4.3 percent on year after the key growing areas received higher rains this year. In Delhi wheat prices dropped -0.75 rupee to end at 1310.25 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1329.2 after opening at 1331, and finally settled at 1331.2. For today's session market is looking to take support at 1329.3, a break below could see a test of 1327.3 and where as resistance is now likely to be seen at 1333.1, a move above could see prices testing 1334.9.

Trading Ideas:

Wheat trading range is 1327.3-1334.9.

Indian farmers have so far cultivated wheat on 26.4 million hectares

Wheat is having resistance at 1334.80 and support at 1327.20 level.

NCDEX accredited warehouses wheat stocks fell 336 tonnes to 3298 tonnes.

In Delhi wheat prices dropped-0.75 rupee to end at 1310.25 rupees per 10 kg.