Corn prices have successfully reached and exceeded the initial target of $405.20, closing the daily candlestick above this level. This breakout indicates a likely continuation of the bullish trend, with the next key resistance now set at $416.30.
In light of this performance, we anticipate a continued upward trajectory in the short term, provided that prices remain above $405.20. A drop below this threshold could negate the current bullish outlook.
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Today’s expected trading range for corn is between $402.00 on the downside and $416.00 on the upside.
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