In the current trading sessions, corn prices are exhibiting a slight bearish bias, hovering around $467.00. However, the stochastic indicator has entered oversold areas, signaling a potential upward movement in the near future.
With the stochastic indicator shedding its negative momentum and entering oversold territories, there is anticipation for the price to resume positive trades and aim for the next target at $474.70.
Consequently, the forecast for the upcoming period remains bullish, with a cautionary note that a break below $461.90 could halt the expected rise and initiate a downward trend.
Expected Trading Range:
Support: $461.00
Resistance: $475.00