Corn Price Resumes Upward Trajectory: Forecast Analysis for May 24, 2024

by Jennifer

In recent trading sessions, the price of corn has exhibited clear positive movement, distancing itself from the $461.90 mark and reinforcing expectations for continued upward momentum in the intraday timeframe. Analysts anticipate a push towards testing the $474.70 level, with the potential for further gains targeting $490.40 in the near term.

Given this trajectory, market sentiment remains bullish for the foreseeable future, contingent upon the price maintaining above the $461.90 threshold.


Traders are advised to consider the expected trading range, which spans from a support level of $465.00 to a resistance level of $475.00, as they navigate the evolving market dynamics.


Forecast Trend: Bullish

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