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The CBOT corn prices saw strong bearish trading yesterday, falling below our negative target and approaching the 530.00 level, opening the way for further declines in the intraday and short term. It is worth noting that the next support level is at 520.00. Therefore, the bearish trend scenario is expected to remain valid and active, supported by the negative pressure from the EMA50, indicating that a breakthrough of 548.00 could push the price to test the resistance level near 564.70 before any new downward attempts. Today’s expected support level is at 520.00, with resistance at 550.00.
