Commodity market: MXV-Index approaches 2,230 points

The world raw material market moved in opposite directions, overwhelming buying power helped the MXV-Index reach 2,226 points.

Prices of two coffee products skyrocketed on July 28. Source: MXV

The Vietnam Commodity Exchange (MXV) said that at the end of the trading session on July 28, coffee prices on the two exchanges skyrocketed due to concerns about supply being affected by bad weather in Brazil.

Arabica coffee futures for September delivery rose 1.4% to $6,651 a tonne. Meanwhile, Robusta coffee for September delivery jumped 4% to $3,358 a tonne – a notable high in recent weeks.

Domestically, this morning, coffee purchase prices fluctuated at 96,000 - 96,700 VND/kg, a slight increase of 900 - 1,100 VND/kg compared to yesterday. However, this increase is easily affected by abundant supply in the global market.

Domestic spot coffee prices are currently about VND12,000/kg higher than international prices. Scarce supply forces businesses to increase purchasing prices to meet contracts. If buying power continues to be strong, domestic prices may increase further.

Corn prices are under great pressure due to favorable crop season. Source: MXV

In contrast to coffee prices, corn is having a favorable crop and prices are under strong pressure. At the end of the trading session on July 28, corn prices on the CBOT floor decreased by 1.44% to 155 USD/ton - the lowest level since August 2024.

Meanwhile, US corn export demand continues to show positive prospects. Notably, according to the US Department of Agriculture 's sales report on Monday, the US sold 225,000 tons of corn to Mexico for the 2025-2026 crop year…

Overall, the corn market remains under pressure from favorable short-term supply prospects and relatively favorable weather conditions. Prices may continue to correct if no new risk factors emerge next week.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-chi-so-mxv-index-tien-sat-2-230-diem-710723.html