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Expected Scenario
Corn price has successfully reached our awaited target at $461.90. It is noteworthy that the price has broken this level and closed the daily candlestick below it, affirming the continuation of bearish trend dominance and paving the way for a decline towards $449.20 as the next primary target.
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Consequently, the bearish bias is anticipated to persist in the upcoming sessions. It’s worth mentioning that breaching $461.90 would halt the expected decline and initiate recovery attempts on an intraday basis.
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Expected Trading Range
The projected trading range for corn spans between support at $450.00 and resistance at $465.00.
Trend Forecast: Bearish
