2
Corn prices have experienced a bearish downturn following recent gains, pressing against the critical support level of $416.30. As trading begins today, prices have declined further, moving below this threshold and indicating a potential return to a bearish trend.
Market analysts suggest maintaining a cautious approach until the price stabilizes around the $416.30 mark. A sustained dip below this level could lead prices toward an initial target of $405.20. Conversely, if prices breach the $416.30 level, it could reactivate a corrective bullish scenario, with the next target reaching $425.30.
For today, the expected trading range is between the support level of $405.00 and the resistance level of $425.00.
Related topic: