Corn prices closed below the $445.40 mark, maintaining a bearish outlook for the near term. The stochastic indicator shows a clear loss of positive momentum, reinforcing expectations of further declines in the short term. The next significant support level is seen at $434.30.
Staying below the $445.40 threshold is crucial for the continuation of this downward trend. A breakout above this level could signal a shift in market sentiment, potentially driving prices higher, with the next resistance target at $460.00.
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Today’s anticipated trading range is between $437.00 support and $448.00 resistance.
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