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In the latest price analysis, corn has successfully breached the $449.20 level and maintained its position below it, affirming the ongoing dominance of the bearish trend. The trajectory is anticipated to continue towards achieving the next negative target at $433.50.
The presence of a double top pattern further reinforces the bearish sentiment, with validity expected unless the price manages to breach and sustain above $449.20.
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Traders should prepare for trading activity within the range bounded by support at $437.00 and resistance at $449.00.
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Trend Forecast: Bearish
