Corn prices have come within a few pips of our anticipated target of $405.20, showing signs of a bullish rebound from this level. This movement is supported by positive momentum from the Stochastic indicator, leading us to expect a bullish bias in the upcoming sessions, with a primary target of testing $416.30.
We forecast a bullish trend for today; however, if the price breaks below $405.20, it would negate the positive outlook and lead to further losses in both the intraday and short-term contexts.
The expected trading range for today is between $404.00 support and $416.00 resistance.
Trend Forecast: Bullish
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