3
Corn prices reached the anticipated target of $416.30 before falling sharply, suggesting a possible end to the recent bullish correction and a return to a bearish trend. To confirm a continued decline, prices must break below $405.20, with potential targets set at $399.00 and extending to $387.30. In the near term, a bearish outlook is anticipated. However, if prices fail to breach $405.20, they may rebound and retest the $416.30 level.
Today’s trading range is projected between $398.00 (support) and $410.00 (resistance).
Related topic:
Who Initiates Delivery In A Corn Futures Contract?