Corn Price Witnesses Further Declines, Extending Bearish Trend

Corn price experienced robust bearish momentum, marking substantial downward movements that breached the support line of the bearish channel and led the price to the vicinity of 457.00. This development reinforces the prevailing expectations of a continued bearish trend, with the next target situated at 450.00.

It is imperative to monitor the price action, and the scenario might see a reversal if the price manages to breach the resistance at 462.00. Such an accomplishment could initiate recovery attempts, targeting the 470.50 areas. However, any such recovery should be approached with caution, considering the overall bearish sentiment.

Expected Trading Range: 450.00 (Support) – 465.00 (Resistance)

Expected Trend: Bearish