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Corn prices have begun to exhibit a bearish trend following a recent peak at $425.30. Analysts predict a potential test of the $416.30 support level, driven by current negative indicators from stochastic analysis.
Market observers should pay close attention to price movements as they approach this critical support level. A breach below $416.30 could trigger further declines, with potential targets extending down to $405.20. Conversely, if prices break above the $425.30 threshold, it could signal a shift towards a bullish correction, with the next target set at $434.30.
For today, the expected trading range is forecasted between $410.00 for support and $425.00 for resistance.
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