Commodities
Corn Futures Plummet on Persistent Bearish Momentum
Corn futures have been under sustained selling pressure, trading below key moving average resistance levels. The current price of USX473.37 is down 1.84% on the day and positioned below its key moving averages.
The bearish momentum persists, with most momentum and oscillator indicators showing weak, oversold market conditions and dominant intraday sellers.
The expected price range for the next 2-3 sessions is $468.23 to $478.51, with a 70% likelihood of continued downside unless resistance at $481.94 is breached.