Green color returns to the world raw material market
Market & Price Trends
Published Dec 8, 2023
The MXV-Index for 3/4 commodity groups closed in green, increasing by 0.43% to 2,108 points after 5 days of decline, with a transaction value of 4,386 billion VND. Corn prices saw a slight recovery, while wheat continued to increase, reaching its highest level in 4 months. Soybean prices also recovered, influenced by the Brazilian government's report on soybean losses due to a dry period. Oil prices continued to decline for 6 consecutive days due to concerns about weak consumption and decreased trade activities in China. Additionally, not very negative data in Europe and the US contributed to limiting positive investor sentiment in the oil market.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Notably, yesterday, the prices of most agricultural products and industrial raw materials simultaneously increased. Yesterday, the green color returned to the corn market, but the upward momentum has shown signs of slowing down. This is also the third session in which corn only fluctuated within a narrow range. The market's cautious sentiment before the release of the December World Agricultural Supply and Demand Estimates (WASDE) report tonight is the reason for this. Closing the session, the price recorded a slight recovery of 0.77%. Meanwhile, wheat continued its continuous increase, closing with a recovery of 1.38%, reaching its highest level in the past 4 months. Despite the less positive figures in last night's Export Sales report, the appearance of large wheat sales orders to China this week is still a strong support factor for prices. After a series of 5 consecutive weakening sessions, soybean prices recovered by more than 1% yesterday. The figures in the monthly report ...