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Corn prices have successfully reached and surpassed the initial target of $393.50, closing the daily candlestick below this level. This development suggests a continuation of the bearish trend, with the next anticipated support level at $380.00.
The bearish outlook is reinforced by the negative pressure exerted by the EMA50. This downward trend is expected to persist as long as prices remain below the $393.50 and $399.00 resistance levels.
Today’s projected trading range for corn is between the $380.00 support and $395.00 resistance.
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