Corn Price Forecast for May 28, 2024: Bullish Momentum Sustained

by Jennifer

Corn Price Analysis:

The corn market commences today’s trading session with evident positivity, poised to attain our awaited target at $474.70. We anticipate a continuation of the prevailing bullish bias, with the potential to surpass this milestone and achieve additional gains reaching $490.40.


Expected Scenario:


The ongoing bullish trend retains its validity on an intraday basis, supported by the EMA50, which propels the price from below. However, failure to breach the $474.70 mark may trigger a bearish rebound, leading the price to test the key support level at $461.90 before any subsequent attempts to ascend.

Expected Trading Range:

The projected trading range spans from the support level of $470.00 to the resistance level of $480.00.

Trend Forecast: Bullish

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