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In the latest analysis of corn prices, the inability to sustain levels above $474.70 has resulted in a distinct negative trend observed in previous sessions, culminating in a settlement below this threshold. This development places corn under anticipated negative pressure in forthcoming sessions, with expectations set on achieving downward targets, commencing with a test of $461.90.
However, it’s noteworthy that a breakthrough of $474.70 coupled with sustained levels above it would reignite a positive scenario, propelling the price towards new gains, potentially reaching $490.40.
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Expected Trading Range
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- Support: $460.00
- Resistance: $476.00
Trend Forecast: Bearish
