Corn Price Breaks Resistance, Anticipating Further Upside Movement

Corn prices have successfully breached the crucial level of 487.90, establishing a clear move above it. This breakout from the previous sideways range indicates a shift towards potential gains in the upcoming sessions, with an initial target set at 493.20. Further advancement beyond this level could propel the price towards the next target at 498.50.

The support for the anticipated rise is reinforced by the EMA50, and the bullish trend is expected to persist unless the price breaks below 487.90 and maintains a position beneath this level.

For today, the projected trading range is between the support at 485.00 and the resistance at 497.00.

Expected Trend for Today: Bullish