Corn Prices Extend Decline, Firmly Resuming Bearish Trend

by Jennifer

Corn prices have once again entered a pronounced negative trajectory, settling below the critical barrier at 450.00. This development reinforces expectations for the sustained continuation of the bearish trend, with a notable focus on the upcoming target at 440.00.

The EMA50, serving as a continuous negative pressure, strengthens the outlook for the anticipated bearish trend, contingent upon the price maintaining stability below 452.50.

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Today’s projected trading range is expected to fluctuate between the support at 440.00 and resistance at 453.00, underlining the prevalent volatility in the corn market.

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The overarching trend for today remains bearish, prompting traders to exercise caution and diligently monitor key support and resistance levels. The persistent stability below 452.50 marks a pivotal condition for the validity of the expected bearish trajectory, shaping the ongoing dynamics in the corn market.

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