Commodity market: Coffee and soybeans still attract buying power

The world raw material market recorded mixed developments, in which coffee and soybeans still attracted buying power.

Green dominates the industrial raw materials market. Source: MXV

The MXV-Index closed at 2,300 points, down nearly 0.3% from the previous session.

Closing the trading session, the industrial raw materials group witnessed green covering most key commodities.

Of which, Arabica coffee price increased by more than 1.6% to 9,131 USD/ton; Robusta coffee price also increased by nearly 2.4% to 4,559 USD/ton.

According to the Vietnam Commodity Exchange (MXV), the hot increase in coffee prices mainly comes from growing concerns about the global supply outlook.

In the domestic market of Vietnam, coffee transactions are quite gloomy, the purchase price at the warehouse remains stable at around 110,000 - 111,000 VND/kg. In Dak Lak , the price of finished products of type R2 and R1 is around 111,000 - 113,300 VND/kg depending on the type of screen.

Selling pressure dominates the agricultural market. Source: MXV

Agricultural products also recorded dominant purchasing power, in which soybeans particularly attracted market attention.

Soybean prices on the CBOT floor increased slightly by 0.13% to 413 USD/ton.

However, the rise in soybean prices is still restrained by concerns about actual demand from China, in the context of US soybeans facing fierce price competition pressure.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-ca-phe-va-dau-tuong-van-hut-luc-mua-724705.html