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Corn prices have surged past the $398.00 mark, showing a strong bullish trend following a decline from the $463.30 level. The recent upward movement suggests a correction phase, with initial resistance projected at $405.20. A successful breach of this resistance could push prices towards $416.30 as the next target.
The bullish outlook is expected to continue in the coming sessions, provided that prices remain above $394.00. A drop below this level could halt the upward momentum and lead to a potential decline.
Today’s trading range is anticipated to be between the $394.00 support level and $405.00 resistance.
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