Corn price under the negative pressure – Forecast today - 27-03-2024

Corn Price Analysis

Corn price ended yesterday with strong negativity, breaking the 442.00$ level and reaching 433.50$ by today’s open. This hints at stopping the bullish correction and resuming the main bearish track again.

• The bearish bias will be suggested in the upcoming sessions.
• Breaking 433.50$ will push the price to achieve negative targets that start at 424.20$ and extend to 415.50$.
• Consolidation of 433.50$ against the current negative pressure will stop the negative scenario and lead to new bullish correction.

The expected trading range for today is between 425.00$ support and 440.00$ resistance.

Trend forecast: Bearish