Corn Price Finds Support on Channel’s Lower Boundary

The price of corn has found support on the lower boundary of the bullish channel visible on the chart. Starting today with a positive move away from this level, it appears to be on track to resume the anticipated bullish trend in the short term. Our next primary target is situated at 509.50.

The positive scenario is expected to persist, further reinforced by the presence of the EMA50. It is important for the bullish momentum to continue that the price remains above 496.00.

Today’s projected trading range is likely to fluctuate between support at 495.00 and resistance at 510.00, with the prevailing trend favoring the bulls.