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Corn prices experienced a downturn yesterday, nearing the first anticipated target of $393.50. The market is expected to see further declines, potentially driving prices below this level to reach additional targets around $380.00.
The 50-day Exponential Moving Average (EMA50) continues to exert negative pressure on the market, reinforcing the likelihood of a sustained bearish trend. This bearish outlook remains valid unless the price rises and maintains a position above $410.00.
For today, the projected trading range for corn is between $385.00, which serves as support, and $405.00, identified as resistance.
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