Corn prices extended their decline, successfully reaching our second anticipated target at 487.90. The market’s persistence in hovering around this level suggests a possible continuation of the downward trend, with the next destination likely being the 481.30 range.
The prevailing bearish scenario is expected to maintain its influence in the upcoming sessions. It remains crucial for the price to remain below the 493.20 threshold to sustain the anticipated downward trajectory.
For today’s trading activities, market experts anticipate a trading range bracketed by the 481.00 support level and the 493.00 resistance level. This underlines the existing bearish sentiment in the corn market, prompting investors to closely monitor developments as they navigate the evolving price dynamics.
