Corn prices have exhibited a notable recovery as they found support around the 470.60 level, initiating a clear upward bounce. Currently testing the minor resistance at 476.00, the outlook suggests a potential continuation of gains, with an aim to surpass this level and achieve additional advances towards the 481.30 areas.
The bullish bias is anticipated to persist in the upcoming period, contingent upon a successful breach of the 476.00 resistance level. However, it is crucial to remain vigilant, as a failure to overcome this barrier could subject the price to renewed negative pressure, prompting a retracement towards the initial support at 470.60.
Today’s expected trading range is projected between the support at 470.00 and the resistance at 482.00. With a prevailing bullish trend, market participants are attuned to potential upward movements in corn prices.
In summary, corn prices showcase a rebounding momentum, with a bullish bias prevailing. The focus remains on the critical resistance level at 476.00, as its breach could pave the way for sustained upward movements in today’s trading session.
