Technical analysis: CBOT corn prices fall further

On June 26, Economies’ analysts’ latest views today: CBOT corn prices successfully reached our waiting target of 589.20, and today began to fall further sharply, reaching the next key support level of 574.30, implying that it will continue to fall in the next few trading days , to achieve a further negative target at 555.90.

As such, we expect to see more bearish bias in the short-term, with the caveat that a break above 589.20 will halt the decline and lead to an attempt to resume the uptrend.

Today’s expected trading range is between the 565.00 support level and the 590.00 resistance level.