Wheat yesterday traded with the positive node and settled 0.16% up at 1370 amid increased demand and ongoing concerns over declining global supplies. In Delhi wheat prices dropped -12 rupee to end at 1371.25 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1362.4 after opening at 1362.6, and finally settled at 1370. For today's session market is looking to take support at 1357.4, a break below could see a test of 1344.8 and where as resistance is now likely to be seen at 1387.6, a move above could see prices testing 1405.2.

Trading Ideas:

Wheat trading range is 1345.1-1405.5.

Wheat yesterday ended firm amid increased demand

Wheat is having resistance at 1387.60 and support at 1357.40 level.

Spread between Wheat FEB & MAR contracts traded in the range of -78.6 to -48.6.

In Delhi wheat prices dropped-12 rupee to end at 1371.25 rupees per 10 kg.