Corn Price Expected to Decline Further – Forecast for May 20, 2024

by Jennifer

Corn Price Analysis:

Corn price has exhibited consistent downward movement in recent sessions, distancing itself from the $461.90 level. This reinforces the expectation of a continuation of the bearish trend, with the next target set at $449.20.

Future Outlook:

The bearish momentum is supported by the price moving below the EMA50, indicating a sustained downward trend. This bearish outlook remains valid unless there is a breach of the $461.90 level followed by a confirmed hold above it.


Trend Analysis:

The anticipated trading range for corn price is between the support level of $449.00 and the resistance level of $461.00.


In summary, the forecast suggests further decline in corn price, with the next target set at $449.20. Traders should monitor price movements carefully for any signs of deviation from the expected bearish trend.

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