Corn prices experienced a bearish rebound after testing the $434.30 level in recent sessions, resuming the anticipated downtrend for both intraday and short-term positions. Traders are now looking for a test of the $425.30 mark, with a break below this level potentially extending the decline to the $416.30 range.
However, should prices breach the $434.30 resistance, the current bearish outlook would be invalidated, paving the way for potential gains, with the next resistance level seen at $445.40.
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For today, the expected trading range for corn is between the support level of $420.00 and the resistance at $432.00.
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