Corn prices exhibited robust upward momentum, successfully surpassing our initially projected positive target at 481.30 and consolidating above this level. This breakthrough has now paved the way for additional gains, with the next significant milestone anticipated at 487.90.
The prevailing bullish trend is poised to persist in the upcoming sessions, underpinned by the price’s positioning above the EMA50. It is crucial to highlight that the sustainability of the bullish wave hinges on the price maintaining stability above the pivotal level of 481.30.
For today’s trading activities, the expected range fluctuates between support at 478.00 and resistance at 488.00.
The overall trend anticipated for today leans strongly towards a bullish stance, reflecting the market’s resilience in maintaining levels above the crucial threshold at 481.30.
