Commodity market continues to improve

Commodity markets were buoyed as oil prices continued to soar, while soybean prices also rose amid forecasts of lower US production.

The global commodity markets are in the green, reflecting the return of optimism after a period of adjustment. The MXV-Index increased by nearly 0.5% to 2,292 points.

6/7 items in the agricultural products group increased in price. Source: MXV

The global agricultural market has improved with prices of 6 out of 7 commodities increasing. Of which, soybeans continued to lead the recovery, increasing by more than 0.7% to 378.2 USD/ton.

According to the Vietnam Commodity Exchange (MXV), this development reflects a change in the supply-demand balance of this staple commodity, as investors begin to reassess the supply prospects of the US - the world's second-largest exporter.

The latest surveys show that the US soybean yield in the 2025-2026 crop year will only reach about 3.57 tons/ha, lower than the previous forecast, equivalent to a decrease of about 800,000 tons compared to the September estimate.

Although the adjustment is not large, it has strong psychological significance, because the market is in a fragile oversupply zone, just a slight decrease in output and the expectation of "tightening supply" is enough to trigger speculative buying.

Oil prices hit their highest level since the beginning of the month. Source: MXV

In the energy market, tense developments between Russia and Ukraine once again pushed world oil prices to their highest level since the beginning of the month.

Specifically, Brent oil price climbed to 66.25 USD/barrel, equivalent to an increase of about 1.22%; while WTI oil price also recorded an increase of about 1.33%, stopping at 62.55 USD/barrel. These are the two highest prices since the beginning of this month.

Further moves from the US Federal Reserve (FED) continue to attract market attention after the minutes of the meeting held on September 16 and 17 were released.

Although there are still many concerns about inflation continuing to exceed the set target, FED officials still agree that the US labor market needs support due to the negative signals that have continuously appeared since July, leading to the decision to lower interest rates to the 4-4.25% range.

Most investors expect another cut in October. The move is expected to help stimulate economic growth, thereby boosting energy demand in the world's largest economy.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-tiep-da-khoi-sac-718957.html