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Corn Price Faces Significant Losses – Forecast for July 1, 2024

by Jennifer

Corn Price Analysis

Corn prices experienced a sharp decline during Friday’s trading, successfully reaching our anticipated target at $408.10. Currently, there is an attempt to break below this level, suggesting potential further declines in upcoming sessions, with the next target set at $394.00.

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It’s crucial to note that a confirmed break below $408.10 would strengthen expectations for continued downward movement. However, if the price consolidates above this level, it could signal a reversal to a bullish trend, potentially aiming to recover and target areas around $420.00.

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Expected Trading Range

The expected trading range indicates support at $394.00 and resistance at $415.00 for the immediate trading sessions.

Trend Forecast: Bearish

The trend forecast maintains a bearish outlook for corn prices in the near term.

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