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Corn prices are currently stabilizing around the critical support level of $405.20, where they have encountered a significant barrier. Positive signals from the stochastic indicator suggest a potential for a new bullish wave, with prices expected to test the $416.30 mark in the near term.
Intraday trading is anticipated to be positive, though a break below $405.20 could negate this upward trend and result in further declines.
Today’s trading range is projected to be between $402.00 (support) and $415.00 (resistance).
Related topic:
Who Initiates Delivery In A Corn Futures Contract?