Wheat trades up on international market

Wheat yesterday traded with the positive node and settled 0.09% up at 1153.
Global wheat production for the 2010-11 crop was revised slightly higher to 649 million metric tons and is forecast to rise by 3.7% the following crop year, the International Grains Council said.
China, bought 116,000 metric tons from the U.S. in the week ended March 17, the most for any week since July 2005, Department of Agriculture data showed. In Delhi wheat prices dropped -1.8 rupee to end at 1200 rupees per 10 kg.
In yesterday's trading session Wheat has touched the low of 1150.2 after opening at 1153, and finally settled at 1153.
For today's session market is looking to take support at 1150.1, a break below could see a test of 1147.3 and where as resistance is now likely to be seen at 1155.9, a move above could see prices testing 1158.9.
Trading Ideas:
Wheat trading range is 1147.3-1158.9.
Global wheat production for the 2010-11 crop was revised slightly higher to 649 million metric tons
Wheat is having resistance at 1155.90 and support at 1150.10 level.
China bought 116,000 metric tons from the U.S. in the week ended March 17
In Delhi wheat prices dropped -1.8 rupee to end at 1200 rupees per 10 kg.

(Source: http://www.commodityonline.com/futures-trading/tradingtips/Wheat-trades-up-on-international-market-12247.html)