Corn prices continued their downward trend yesterday, reaching the anticipated target of $416.30. As trading begins today, prices are showing further declines, surpassing this level. This movement indicates a potential continuation of the bearish trend in both the intraday and short-term outlooks, with a next target of approximately $405.20.
Market analysts suggest maintaining a bearish perspective for the foreseeable future. However, a breach of the $416.30 mark could halt the current downward pressure and lead to an attempt at establishing a new bullish wave.
For today, the expected trading range for corn prices is set between a support level of $405.00 and a resistance level of $420.00.
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