Abstract. Regulation of sucrose-starch accumulation and its effect on CO2 gas exchange and electron transport were studied in low-temperature-stressed and coldacclimated spring (Katepwa) and winter (Monopol) cultivars of wheat (Triticum aestivum L.). Low-temperature stress of either the spring or winter cultivar was associated with feedback-limited photosynthesis as indicated by a 50-60% reduction in CO2 assimilation rates, twofold lower ATP/ADP ratio, and threefold lower electron transport rate than 20°C-grown control plants. However, no limitations were evident at the level of ribulose-l,5-bisphosphate carboxylase-oxygenase (Rubisco) in low-temperature-stressed plants. Cold acclimation of the spring cultivar resulted in similar feedback-limited photosynthesis observed during low-temperature stress. In contrast, cold acclimation of the winter cultivar resulted in an adjustment of CO2 assimilation rates to that of control plants. However, we show, for the first time, that this capacity to adjust CO2 assimilation still appeared to be associated with limited triose phosphate utilisation, a twofold lower ATP/ADP ratio, a reduction in electron transport rates but no restriction at the level of Rubisco compared to controls grown at 20°C. Thus, contrary to previous suggestions, we conclude that cold-acclimated Monopol appears to exhibit feedback limitations at the level of electron transport characteristic of cold-stressed plants despite the maintenance of high rates of CO2 assimilation. Furthermore, the differential capacity of the winter cultivar to adjust COa assimilation rates was associated with higher levels of sucrose accumulation and a threefold higher sucrose-phosphate synthase activity Abbreviations: AGPase = ADP-glucose pyrophosphorylase; FBPase = fructose-l,6-bisphosphatase; Fru 6-P -fructose 6-phosphate; Fru 1,6-BP = fructose 1,6-bisphosphate; Glc 6-P = glucose 6-phosphate; PGA = 3-phosphoglyceric acid; Rubisco -ribulose-1,5-bisphosphate carboxylase-oxygenase; RuBP = ribulose 1,5-bisphosphate; SPS = sucrose-phosphate synthase; Triose-P = triose phosphate