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Corn prices experienced significant downward pressure recently, approaching a low of $387.30. However, the market has shown signs of recovery as prices consolidate above this level, indicating potential for a bullish rebound.
In the short term, corn prices are expected to build a bullish trend, with initial targets set at $397.50 and potentially reaching $405.20 if the upward momentum continues.
Future price movements will likely remain positive unless the price breaks below and sustains under the $387.30 mark.
For today, the anticipated trading range is between $385.00 for support and $400.00 for resistance.
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