Commodities
Corn Futures Plummet 1.23% as Downside Momentum Intensifies
Corn futures have taken a hit in recent trading sessions, with prices down 1.23% to $532.37.
The decline has left corn futures below their key moving averages on the hourly chart, sparking concerns about further declines.
Technical indicators suggest that the downside momentum is intensifying, with a probable range of $526.17 to $538.57 over the next 2-3 days.
The Ichimoku Kijun acts as resistance at $544.63, while momentum indicators such as RSI and MACD indicate negative momentum.