Corn prices have struggled to maintain a foothold above the $461.90 mark, with recent trading indicating a downward trend. Today’s session witnessed a decisive break below this crucial threshold, signaling potential further declines in the near term, with initial targets set around the $449.20 level.
Analysts suggest a bearish bias prevailing in the market unless there’s a notable breach above $461.90, accompanied by sustained upward momentum. Should the downward trajectory persist and breach the $449.20 support level, the price may experience additional downward pressure, potentially leading to a test of the $433.50 support area.
For today’s trading range, support is seen around $448.00, while resistance is anticipated near $462.00. The overall trend forecast remains bearish, reflecting the current market sentiment and price dynamics.
