In the latest analysis of corn prices, a prevailing negative sentiment is observed, as the commodity struggles to sustain its position above the $461.90 threshold. Today, the price has broken below this level, initiating a further decline that reinforces the potential for continued bearish bias in forthcoming trading sessions, with an initial target set at $449.20.
The bearish outlook persists unless the price manages to breach the $461.90 mark and sustain a position above it once again. Analysts emphasize that should the decline persist and breach the $449.20 level, the price may incur additional losses, potentially reaching areas around $433.50.
Today’s trading range is anticipated within the following parameters:
- Support: $448.00
- Resistance: $462.00
The overall trend forecast maintains a bearish outlook, highlighting a propensity for further downward movements in the near term.
