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In recent sessions, corn prices have encountered significant downward pressure, breaking below the $410 mark and signaling a return to the bearish trajectory. The commodity is now approaching its recent low of $393.50, with indications pointing towards a potential further decline beyond this point to potentially reach $380.
Analysts anticipate that unless there is a rally that successfully breaches and sustains above the $410 level, the bearish sentiment is likely to persist in upcoming trading sessions.
Today’s anticipated trading range for corn is expected to fluctuate between a support level of $385 and a resistance level of $405.
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