Vietnam: Investment cash flow in agricultural products has shifted strongly

Soybean

Published Jan 11, 2024

Tridge summary

The Vietnam Commodity Exchange reported a decrease in market prices for raw materials on January 10, with the MXV-Index dropping by 0.58% to 2,097 points. This was accompanied by a 12.35% increase in transaction value, reaching the highest level since the beginning of 2024. The favorable crop situation in Argentina has had a strong impact on soybean prices, but concerns about US soybean demand and weakness in crude oil prices have contributed to downward pressure on soybean prices.

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Original content

Data from the Vietnam Commodity Exchange (MXV) shows that the market price of raw materials reversed to go down on January 10. Closing the day, the MXV-Index of 3/4 commodity groups was in red, pushing the MXV-Index down 0.58% to 2,097 points. The transaction value of the entire Department increased by 12.35%, to more than 5,300 billion VND, reaching the highest level since the beginning of 2024 until now. Notably, investment cash flow had a strong shift in agricultural products and industrial raw materials during yesterday's trading day. According to MXV, soybean prices turned to weaken yesterday. In the context of the crop situation in South America receiving a lot of positive news, sellers maintained their dominance from the beginning of the session. With a decrease of nearly 1%, soybean prices closed the January 10 session at the lowest level since mid-June 2023. The Buenos Aires Grain Exchange (BAGE) said Argentina's key agricultural areas will receive moderate rainfall and ...

Source: Baochinhphu