2
Corn prices are currently testing a critical support level at $434.30, as the market attempts to maintain a consolidation above this threshold. This move is vital to sustain the ongoing bullish trend, which is targeting the $445.40 region in the near term.
Maintaining support above $434.30 is crucial for the continuation of the upward momentum. A breach of this level, however, could introduce negative pressure, potentially pushing prices toward the $425.30 area.
For today, the expected trading range for corn is between support at $430.00 and resistance at $440.00.
Related topic:
Who Initiates Delivery In A Corn Futures Contract?