Corn prices remain confined within a range, currently bounded by the support level at $387.30 and the declining resistance line at $394.00. Neutrality is advised until the price decisively breaks above or below these levels to clarify the next direction.
A breach of the support level at $387.30 could signal a continuation of the bearish trend, with potential new targets at $380.00 and $365.00. Conversely, surpassing the resistance at $394.00 would indicate a bullish correction, with the first target set at $405.20.
Today’s expected trading range is between $380.00 and $400.00.
Trend Forecast: Neutral
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