Coffee leads the way, MXV-Index rises.

The global commodities market opened July on a positive note, with buying pressure dominating across many items, pushing the MXV-Index up to 2,574 points.

The MXV-Index rose to 2,574 points. Source: MXV

According to the Vietnam Commodity Exchange (MXV), coffee was the focus of the market. The trading value of Arabica and Robusta coffee increased by more than 50% compared to the previous session, accounting for over 90% of the trading value of the entire industrial raw materials group and more than 22% of the total trading value on the market.

At the close of trading, September Arabica coffee futures rose 4.54% to $6,832 per ton. September Robusta futures also increased by more than 3%, reaching around $3,770 per ton. This marks the third consecutive day of gains for the coffee market, extending the recovery trend that has been ongoing for more than two weeks.

Coffee futures price trends. Source: MXV

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Besides weather factors, the continued decline in certified Arabica coffee inventories at the ICE exchange is also contributing to price support. The latest data shows that certified Arabica coffee inventories are now only around 377,500 bags, less than half of the level seen during the same period last year. Meanwhile, investment funds are also returning to the market, with net long positions increasing by nearly 50% compared to the previous week.

Mr. Quach Van Luan, Director of the Hanoi Branch of Saigon Futures Joint Stock Company - a trading member of MXV, believes that the main trend of the coffee market in the medium and long term will likely shift to a wide-range accumulation phase, awaiting further new factors related to weather and the supply outlook for the 2026-2027 crop year.

Forecast of soybean production in major producing countries. Source: MXV

Conversely, the agricultural commodities group saw a recovery in soybeans following the report from the US Department of Agriculture (USDA). At the close of trading, CBOT soybean prices rose 0.8% to $416.4 per ton, while soybean meal prices increased 0.46% to $336.5 per ton.

According to MXV, the current upward trend is primarily technical, with buyers closing short positions and bargain-hunting returning after the previous sharp decline. Additionally, the strong recovery in wheat prices following the latest USDA report has had a positive ripple effect on the grain and oilseed sectors.

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Source: https://hanoimoi.vn/ca-phe-dan-dat-mxv-index-tang-diem-1210268.html