The major wheat producing countries in the world are India, China, USA, France, Russia, Canada and Australia. Global demand for wheat is growing at 1 per cent per year. Crop growth and productivity are determined by a large number of factors such as genetic potential of crop cultivar, soil, weather and management variables, which vary significantly across time and space. Early prediction of crop yield is important for planning and taking various policy decisions. Many countries use the conventional techniques of data collection for crop monitoring and yield estimation based on ground – based visits and reports. These methods are subjective, costly and time consuming. Empirical models have been developed using weather data which is also associated with a number of problems. With the launching of satellites, satellite data are being used for crop monitoring and yield prediction. Most studies have revealed a strong correlation between remotely sensed NDVI and crop yield. GPS/sensor based on-the-go yield monitors are being used in the developed world for yield mapping. A critical analysis of the diverse techniques helps in identification of the most accurate and useful ones. An effort has been made for comparative assessment of these techniques the details of which are discussed in the paper.