Corn prices surged upwards in the previous trading session, surpassing the crucial level of $474.70 and maintaining a position above it. This development has activated a positive scenario in the market, setting the stage for further gains over the intraday and short-term periods. Analysts project the next target to be at $490.40, reflecting growing optimism among market participants.
The anticipated bullish momentum is poised to drive prices higher in the upcoming sessions, with market dynamics favoring continued upside potential. However, it is crucial to monitor price action closely, as failure to consolidate above $474.70 could halt the bullish wave and prompt a reversal towards lower levels.
The expected trading range is delineated by support at $470.00 and resistance at $485.00. These levels are expected to serve as key markers for short-term price movements, providing valuable guidance for traders and investors.
Overall, the trend forecast for corn remains bullish, supported by recent market movements and positive sentiment. As market participants navigate evolving conditions, attention is focused on critical price levels and market dynamics to capitalize on potential opportunities in the corn market.
