2
Corn prices have surged past the $416.30 mark, moving upward to approach the $425.30 level. This rally indicates a potential for further gains in the upcoming trading sessions. Analysts note that if prices break through the $425.30 threshold, the next target could be set at $434.30.
The upward movement is supported by the price remaining above the 50-period exponential moving average (EMA50), which suggests a continued bullish trend. However, this positive outlook will remain intact unless prices fall below $416.30 and sustain below that level.
For today, the expected trading range is anticipated to be between a support level of $418.00 and a resistance level of $430.00.
Related topic:
Who Initiates Delivery In A Corn Futures Contract?