Thursday Forecast
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 399, which will be followed by moving up to resistance level 412.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 399, which will be followed by reaching support level 390 - 386.
This/Next Week Forecast (October 12 - 16, 2020)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 390, which will be followed by reaching resistance level 412.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 390, which will be followed by moving down to support level 375 355.
Previous week corn price forecast
Fundamental Analysis
Difference between supply and demand showing fair price on the level 370.
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.
All information provided by Anton Kolhanov is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to buy or sell any trading instrument. Anton Kolhanov is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained. You should do your own thorough research before making any investment decisions and seek advice from an independent financial advisor.
Recommended Content
Editors’ Picks
EUR/USD holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays firm above 156.00 after BoJ Governor Ueda's comments
USD/JPY stays firm above 156.00 after surging above this level on the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.