Wheat yesterday traded with the positive node and settled 0.23% up at 1212.4. Government agencies and private millers procured more than 109.64 lakh tonnes of Wheat till 24th May whereas 102.17 lakh tonnes wheat procured last year. Out of total procurement of 10964631 tonnes of wheat Government agencies procured 108.77 lakh tonnes of wheat (99.4%) till date whereas private traders procured 60999 tonnes (0.6%) of wheat. In Delhi wheat prices dropped -4.8 rupee to end at 1192.1 rupees per 10 kg. In yesterday's trading session Wheat has touched the low of 1206 after opening at 1210, and finally settled at 1212.4. For today's session market is looking to take support at
1206.9, a break below could see a test of 1201.5 and where as resistance is now likely to be seen at 1216.9, a move above could see prices testing 1221.5.

Trading Ideas:

Wheat trading range is 1201.5-1221.5.

Government agencies and private millers procured more than 109.64 lakh tonnes of Wheat till 24th May

Wheat is having resistance at 1216.90 and support at 1206.90 level.

NCDEX accredited warehouses wheat stocks rose by 297 tonnes to 6504 tonnes.

In Delhi wheat prices dropped -4.8 rupee to end at 1192.1 rupees per 10 kg.