Corn prices have resumed their negative trajectory following a temporary uptick in previous sessions. This reaffirms the continuation of the expected bearish trend in the near future. It’s important to note that our primary target remains at 435.60.
Breaking through the support level at 470.50 will facilitate the achievement of our awaited target. Conversely, surpassing the resistance at 486.60 would disrupt the bearish scenario and push prices to seek intraday gains, potentially reaching 509.60 before any new attempts at decline.
The expected trading range for today is expected to be between the support at 470.00 and resistance at 485.00. The prevailing trend bias for today remains bearish.
Today’s Expected Range: 470.00 (Support) – 485.00 (Resistance)
Anticipated Trend for the Day: Bearish
