Banking News

Wheat yesterday traded with the positive node and settled 0.73% up at 1243 due to increased demand amid limited arrivals. Wheat sowing has been completed in most of the areas and conducive weather condition could help in harvesting record output for the second straight year. Wheat acreage was 27.6 million hectares until Dec. 30, since the sowing season began on Oct. 1, as against 27.7 million hectares in the previous year, data showed on Friday. India expects a record wheat harvest of 86 million tonnes in 2012, the farm secretary said in October, raising hopes of exports for a second straight year from the world's second-biggest producer and consumer of the grain after China.