Corn Price Analysis
Corn prices experienced a sharp decline during Friday’s trading, successfully reaching our anticipated target at $408.10. Currently, there is an attempt to break below this level, suggesting potential further declines in upcoming sessions, with the next target set at $394.00.
It’s crucial to note that a confirmed break below $408.10 would strengthen expectations for continued downward movement. However, if the price consolidates above this level, it could signal a reversal to a bullish trend, potentially aiming to recover and target areas around $420.00.
Expected Trading Range
The expected trading range indicates support at $394.00 and resistance at $415.00 for the immediate trading sessions.
Trend Forecast: Bearish
The trend forecast maintains a bearish outlook for corn prices in the near term.
