Commodities
Corn Futures Face Further Downside Risk Amid Weak Support
Corn Futures are currently trading at $526.6 after a modest decline, holding below their key moving averages.
The price action remains confined in a narrow range and is positioned near session lows in quiet conditions.
According to technical analysis, Corn Futures are under short- and medium-term selling pressure, with momentum signals aligning bearishly on intraday timeframes.
The MACD indicates a strong sell, while the RSI shows continued selling pressure. The price is projected to consolidate between $523.3 and $531.7 in the next two days, with a high probability of further downside if support breaks.