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Corn price is under the negative pressure – Forecast today - 28-10-2024
Corn price faced clear negative pressures in the previous sessions, as it broke 425.30 level and settled below it, to head towards achieving expected decline on the intraday basis after recording lower high as appears on the chart, on its way to test 416.30$ initially, noting that breaking it will push the price towards 405.20$ on the near-term basis.
Therefore, we expect to witness more decline in the upcoming sessions unless breaching 425.30$ and holding above it again.
The expected trading range for today is between 410.00$ support and 428.00$ resistance.
Trend forecast: Bearish
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