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Corn prices have recently encountered significant downward pressure, breaking below the crucial level of $425.30. Following this decline, the market is poised for further intraday losses, having recorded a lower high as indicated on the chart. Initial support is expected around $416.30; should this level be breached, prices may drop to approximately $405.20 in the near term.
Looking ahead, further declines are anticipated unless prices recover above $425.30 and maintain support at that level.
Today’s expected trading range for corn is set between a support level of $410.00 and a resistance level of $428.00.
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How Much Is One Corn Futures Contract 2024?