MXV-Index maintained its upward momentum for the fifth consecutive session.

(Chinhphu.vn) - The Vietnam Commodity Exchange (MXV) announced that yesterday, trading in commodities linked to the Chicago Board of Commodity Exchange (CBOT) and the Intercontinental Exchange (ICE-US) was temporarily suspended due to the recent federal holiday (Juneteenth Day). However, capital continued to flow into the global commodity market. At closing, the MXV-Index extended its gains for the fifth consecutive session, rising nearly 0.5% to 2,319 points.

Robusta coffee prices continue to weaken.

At the close of yesterday's trading session, many commodities in the industrial raw materials market temporarily suspended trading due to the Juneteenth holiday in the US. Robusta coffee prices, in particular, continued to fall slightly by 0.1%, retreating to $3,887 per ton. Overall, since the beginning of the week, this commodity has lost nearly 10% of its value due to significant pressure from the prospect of abundant supply from major producing countries. In addition, impressive export growth figures for this type of coffee in various countries have also contributed to several sessions of sharp price declines.

According to data from Cecafe as of June 13th, Brazil's Robusta coffee exports reached 173,600 bags, a sharp increase of 275% compared to May. It is projected that the country's coffee exports in June will reach approximately 2.7 million bags, with Robusta accounting for up to 20%. Notably, Robusta exports in June are expected to reach 500,000 bags, exceeding the total exports for the first five months of the year and creating a significant surprise in the market.

In addition, data from the Indonesian government shows that the country's coffee exports in the first four months of the year, mainly Robusta, increased sharply by 122.5%, reaching 127,000 tons. Meanwhile, Vietnam's Robusta coffee exports also recorded impressive growth, with exports reaching approximately 1.12 million tons in the first eight months of the 2024-2025 crop year, a 61% increase compared to the same period last year.

Weather forecasts in Espírito Santo state, Brazil's largest Robusta coffee-growing region, indicate that current weather risks are not a major concern. Average temperatures are currently close to 19°C, lower than the long-term average of 21°C. Meanwhile, average rainfall over the past seven days has been relatively stable at 0.91 mm, only slightly lower than the long-term average of 0.93 mm.

Brent crude oil prices are approaching the $80/barrel mark.

According to MXV, the energy market continued its upward trend as oil prices extended their gains in yesterday's trading session, amid escalating tensions in the Middle East.

At the close of trading, Brent crude oil prices climbed to $78.9 per barrel, representing a 2.8% increase. Meanwhile, WTI crude oil traded on the NYMEX was relatively quiet due to the early closing of the exchange. At the close, WTI crude oil settled at $75.8 per barrel, representing an increase of approximately 0.88%.

Also yesterday, several forecasts were released with updated scenarios regarding the surge in oil prices due to supply disruptions from the Middle East. Goldman Sachs set a geopolitical risk premium of $10 per barrel and suggested that oil prices could climb above $90 per barrel depending on the extent of damage caused by this conflict.

In addition, JP Morgan Bank also warned of a worst-case scenario, suggesting that oil prices could skyrocket to over $120 per barrel. However, on the other hand, credit rating agency Morningstar DBRS believes that any sudden price increase would only be temporary. Specifically, high oil prices would exacerbate global economic instability and demand for oil. Therefore, as long as this new conflict in the Middle East subsides, geopolitical risk premiums will decrease, and consequently, oil prices will also fall.

Source: https://baochinhphu.vn/mxv-index-giu-chac-da-tang-sang-phien-thu-5-lien-tiep-102250620092829895.htm