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SINGAPORE: CBOT May corn will end very soon its consolidation within a range of $7.28-1/4 to $7.66 per bushel, and develop a solid trend thereafter.
The contract approached $7.66 again.
It is likely to break this level and rise towards $7.78-1/4 to $7.92-1/2 range.
However, the chance of a deep fall to $7.28-1/4 remains until the break above $7.66 is confirmed.
CBOT corn may test support at $7.28-1/4
A break below $7.54-1/4 could cause a fall into $7.28-1/4 to $7.42-1/2 range.
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