Corn Price Forecast Update – 10-05-2024

by Jennifer

Corn Price Analysis

The corn price has sustained its descent, breaching the $459.00 level and settling below it. A detailed examination of the chart reveals the formation of a head and shoulders pattern, signaling a negative outlook on an intraday basis. The initial target is established at $449.20, with subsequent targets at $440.00 and $433.50 upon breaching the initial level.


We anticipate a further decline in the forthcoming sessions unless there is a breach of $461.90 and a subsequent hold above this level.


Expected Trading Range for Today

We project the trading range for today to fluctuate between the support level at $445.00 and the resistance level at $465.00.

Trend Forecast: Bearish

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