Corn Weekly Forecast, September 21 – 25

This/Next Week Forecast
(September 21 – 25, 2020)

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 370, which will be followed by reaching resistance level 390.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 370, which will be followed by moving down to support level 355 and if it keeps on moving up above that level, we may expect the market to reach resistance level 340.

Chart Corn This/Next Week Forecast, Technical Analysis

previous week corn price forecast
Chart Corn This/Next Week Forecast, Technical Analysis

Fundamental Analysis

Difference between supply and demand shows overbought market and the fair price at the level $350. Bad corn condition for this year pushing price up and it can reach the level $390, but anyway after this has more potential for downtrend back to $350.
Corn Futures Market Fundamental Analysis Chart Ending Stocks US With World

corn crop conditions

Corn Price Forecast 2020, Long-Term
(Quarter III: July – September, 2020)

Uptrend scenario
An uptrend will start as soon, as the 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 market to reach resistance level 390.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 321, which will be followed by reaching support level 262.

Chart Corn Price Forecast 2020, Long-term Outlook, Technical Analysis

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