Last week, the MXV-Index decreased by nearly 2%. Source: MXV
According to the Vietnam Commodity Exchange (MXV), at the end of the week (from November 17 to 21), the MXV-Index decreased by nearly 2%, to 2,303 points, reflecting the general weakening of the market. Crude oil and agricultural products, especially corn, were the focus of price declines.
4/5 items in the energy group decreased in price. Source: MXV
The energy sector was under widespread selling pressure last week, causing the prices of two key crude oil products to weaken sharply. For the week as a whole, WTI crude oil prices fell more than 3.1%, closing at $58/barrel, while Brent crude oil lost more than 2.8%, closing at $62.5/barrel.
The core reason for the decline is the prospect of continued global supply surplus, with reputable organizations such as the Petroleum Exporting Countries (OPEC), the International Energy Agency (IEA) and financial group Goldman Sachs all unanimously warning that 2026 could see a record surplus of up to 4 million barrels/day.
In addition, the expansion of production capacity in the US, Brazil and Canada, along with the flow of cheap oil from Russia, further increases the risk of oversupply.
At the same time, the US Federal Reserve Chairman's signal to maintain current interest rates has pushed the USD up, reducing the attractiveness of commodities priced in greenbacks such as crude oil.
According to MXV, in the short term, oil prices will continue to fluctuate under the impact of geopolitical risks. MXV forecasts that oil prices will likely continue to fluctuate in the range of 58-63 USD/barrel.
Red dominates the agricultural market. Source: MXV
The past trading week saw widespread selling pressure in the agricultural market, with corn leading the decline, losing more than 1% to close at $167.50 per ton – its lowest level since late October.
The main driver of the price decline comes from concerns about Chinese demand, while the amount of US corn exported to China in the past 10 months has decreased by 90%.
Meanwhile, reputable organizations have raised their forecasts for global corn production in the 2025-2026 crop year, with an increase of about 4% compared to the previous crop year, showing abundant supply.
The increase in the DXY index also contributed to reducing the competitiveness of US corn in the export market.
Source: https://hanoimoi.vn/ap-luc-du-cung-va-vi-mo-de-nang-mxv-index-sut-gan-2-724444.html
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