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Corn price has successfully reached our initial target at 475.00 and currently resides in its proximity, anticipating further decline towards 470.60, which marks our subsequent primary objective.
Consequently, the outlook maintains a bearish trajectory for the forthcoming period, fortified by the downward pressure exerted by the EMA50. It is imperative for the price to remain below 481.30 to sustain the projected descent.
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The projected trading range for today is expected to oscillate between the support level at 470.00 and the resistance level at 480.00.
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Anticipated Trend for Today: Bearish
