Corn prices rallied sharply yesterday, exceeding the anticipated target of $445.40 and closing above it, signaling the potential for further gains in the near term. Analysts now project the next target to reach $463.30.
However, the current negativity in the stochastic oscillator suggests that temporary sideways fluctuations might occur before the bullish trend resumes. The upward momentum is expected to persist as long as prices remain stable above the $445.40 threshold.
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For today’s trading session, the projected range is set between $445.00 as support and $457.00 as resistance.
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