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Corn prices opened today on a positive note, approaching the $425.30 mark and attempting to confirm a breakout above this level. This movement suggests a potential recovery in the upcoming sessions, with the next target set at $434.30.
A bullish bias is anticipated for today, supported by the 50-day exponential moving average (EMA), which is providing upward momentum. However, if prices fail to consolidate above $425.30, they may experience negative pressure, potentially driving them down to an initial target of $416.30.
Today’s expected trading range is between a support level of $420.00 and a resistance level of $434.00.
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