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Corn price breaks the support – Forecast today - 09-05-2024
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Corn price breaks the support – Forecast today - 09-05-2024
May 8, 2024 9:30 PM

Corn Price Analysis Forecasts and Analysis Corn price ended yesterday with clear negativity, breaking 461.90$ and settling below it, hinting at a potential return to the main bearish track. Technical indicators provide positive signals that might assist in pushing the price to recover again. The contradiction between the technical factors makes us prefer to stay aside until we get a clearer signal for the next trend. Breaking 459.00$ will push the price to continue the decline and visit 449.20$ as the next negative target, while breaching 461.90$ will lead the price to resume the bullish wave with the next target located at 474.70$. Expected Trading Range The expected trading range for today is between 450.00$ support and 470.00$ resistance.

Trend Forecast: Neutral

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