Commodity market: Agricultural product prices increase across the board

The Vietnam Commodity Exchange (MXV) said that at the close of yesterday's trading session, buying power dominated, pushing the MXV-Index up 0.7% to 2,213 points.

Agricultural commodity markets increased across the board. Source: MXV

At the end of the trading session on May 20, positive sentiment continued to spread when all 7 items in the agricultural products group simultaneously closed in green.

Corn prices rose more than 1.5% to $178 a tonne, marking the second consecutive session of recovery. The increase in corn prices was mainly due to supply concerns as heavy rains affected planting activities, inventories decreased, and biofuel demand increased.

Meanwhile, wheat prices jumped more than 3%, leading the recovery of the entire agricultural group.

The metal commodity market is divided. Source: MXV

The metal market continued to record a clear differentiation, as precious metals rebounded strongly due to increased demand and concerns about supply shortages, while base metals were under pressure from weakening demand.

At the close of the session, silver prices increased by 2.05% to 33.17 USD/ounce, while platinum jumped 4.92% to 1,055.4 USD/ounce, bringing the increase since the beginning of the year to 16%.

MXV believes that Moody's downgrade of US debt has provided short-term support for precious metals such as silver. In the coming trading sessions, the market will focus on US fiscal and public debt issues, making the market sentiment more cautious, thereby stimulating demand for silver.

On the other hand, iron ore prices continued to slide slightly by 0.05%, falling to 99.4 USD/ton.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-nong-san-dong-loat-tang-702970.html