Corn prices are currently fluctuating within a range defined by key trend confirmation levels. The support line stands at $387.30, while the resistance line is positioned at $394.00. Market observers will maintain a neutral stance until the price decisively breaks through either of these levels to clarify its future direction.
A drop below the support level could signal a resumption of the bearish trend, potentially driving prices down to new lows around $380.00, and possibly as low as $365.00. Conversely, if the price breaches the resistance level, it may trigger a bullish correction with an initial target of $405.20.
Today’s expected trading range is between $380.00 and $400.00.
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