Corn prices experienced clear negativity in the recent trading session, bringing them closer to the anticipated target at 442.90. The prevailing momentum suggests the potential for surpassing this level, opening the door for further declines towards 435.00 and subsequently 425.00 areas.
The ongoing support from the EMA50 reinforces the bearish outlook, which remains valid unless a price rally manages to breach the 455.00 level and sustain trading above it.
For today’s trading, the expected range is between the support level at 435.00 and the resistance level at 450.00.
In summary, the current trend for corn prices leans towards a bearish trajectory, emphasizing the importance of breaching and maintaining levels above 455.00 for any potential shift in the market dynamics.
