Corn Price Hits Target and Continues to Rise

Corn price experienced a significant bullish rally, successfully achieving the previously awaited target at 509.50. Notably, the price not only reached this level but also closed the daily candlestick above it, strengthening the probability of a continued uptrend and further gains towards 517.50, followed by 526.00.

With this outlook in mind, the bullish wave remains active and valid. It’s important to monitor the 509.50 support level, as breaking below it could signify a trend reversal towards a bearish direction.

For today’s trading, the expected range is between the support at 505.00 and the resistance at 520.00, with the prevailing trend remaining bullish. Traders should adjust their strategies accordingly.