Corn prices opened today with a strong rise, surpassing the anticipated target of $487.30 and paving the way for further gains on both intraday and short-term bases. The next key target is $516.00.
Maintaining a price above $487.30 is crucial for the continuation of the upward trend. A break below this level would likely reverse the price direction, with the potential to test negative targets starting at $475.80.
The expected trading range for today is between support at $490.00 and resistance at $500.00.
Trend Outlook: Bullish