Corn Price Keeps Its Negative Stability – Forecast for June 5, 2024

by Jennifer

Expected Scenario

Corn prices tested the key resistance at $449.20 and remained stable below this level, maintaining the bearish trend scenario. This is influenced by the previously completed double top pattern, with the next main target set at $433.50.

The EMA50 supports the anticipated bearish trend, emphasizing the importance of holding below $449.20 to achieve the expected targets.


Expected Trading Range

Support: $437.00


Resistance: $449.00

Trend Forecast: Bearish

In summary, corn prices are expected to continue their bearish trend towards $433.50, provided they remain below the key resistance level of $449.20.

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