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Corn prices experienced a notable increase, successfully reaching the anticipated target of $416.30. The price not only met this target but also breached the level, closing the daily candlestick above it. This development suggests the potential for further bullish corrections in the near future, with the next target set at $425.30.
As a result, additional positive trading activity is expected today. However, if prices fail to maintain consolidation above $416.30, they may face downward pressure, with initial targets potentially falling to the $405.20 area.
The projected trading range for today is between a support level of $410.00 and a resistance level of $425.00.
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Who Initiates Delivery In A Corn Futures Contract?