Weekly Forecast
(August 24 - 28, 2020)
Uptrend scenario
The uptrend may be expected to continue, while the corn market is trading above support level 330, which will be followed by reaching resistance level 340 and if it keeps on moving up above that level, we may expect the corn market to reach resistance level 354.
Downtrend scenario
A downtrend will start as soon, as the corn market drops below support level 330, which will be followed by moving down to support level 320 and 311.
Previous week corn price forecast
Quarterly Forecast
(Quarter III: July - September, 2020)
Uptrend scenario
An uptrend will start as soon, as the corn market rises above resistance level 321, which will be followed by moving up to resistance level 354 and if it keeps on moving up above that level, we may expect the corn market to reach resistance level 390.
Downtrend scenario
The downtrend may be expected to continue, while the corn market is trading below resistance level 321, which will be followed by reaching support level 262.
Fundamental analysis
According to Fundamental Analysis difference between supply and demand shows oversold market and the fair price at the level $340.
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