Wheat yesterday traded with the negative node and settled -0.57% down at 1363.2. In Delhi wheat prices dropped -5.4 rupee to end at 1365.85 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1361.4 after opening at 1370, and finally settled at 1363.2. For today's session market is looking to take support at 1359.1, a break below could see a test of 1354.9 and where as resistance is now likely to be seen at 1369.7, a move above could see prices testing 1376.1.

Trading Ideas:

Wheat trading range is 1355.5-1376.7.

Wheat yesterday traded with the negative node tracking weakness in spot market

Wheat is having resistance at 1369.70 and support at 1359.10 level.

Spread between Wheat FEB & MAR contracts yesterday traded in the range of -73 to -70.4.

In Delhi wheat prices dropped-5.4 rupee to end at 1365.85 rupees per 10 kg.