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Corn prices are trending downward, with expectations of approaching a new target of $405.20. Traders are advised to look for negative momentum that supports the continuation of this decline on both intraday and short-term bases. A breach of the $405.20 level could lead to further decreases, potentially reaching $397.00 as the next downside target.
The bearish trend remains firmly in place, emphasizing the importance of maintaining prices below $416.30 to meet the anticipated targets.
For today, the expected trading range for corn is between a support level of $400.00 and a resistance level of $415.00.
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Who Initiates Delivery In A Corn Futures Contract?