World agricultural raw material prices are recovering

Published 2024년 8월 15일

Tridge summary

Prices of several agricultural commodities, including soybean meal and corn, are on the rise, despite a decline in 4/5 energy commodities. Corn prices have recovered from a four-year low, supported by concerns over potential reductions in Ukraine's corn production due to drought. Wheat prices have also increased due to U.S. supply concerns. In contrast, the oil market is experiencing weakening prices, influenced by rising inventory data and reduced demand forecasts. The slowdown in China's economy is causing concern for global economic activity and jet fuel demand. In the US, inflation is cooling down, potentially allowing the Federal Reserve to lower interest rates in September.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the agricultural market, prices of many commodities have improved, including soybean meal, which unexpectedly increased by nearly 5%, and corn prices have also recovered from the lowest price range in 4 years. Meanwhile, the energy market witnessed 4/5 commodities falling in price. However, selling pressure still prevailed, so the MXV-Index fell another 0.24% to 2,099 points. Corn prices surpass the lowest price range in 4 years The agricultural market is gradually escaping the red, and prices of many commodities are recovering. Notably, soybean meal prices increased by nearly 5%, breaking the 7-session decline streak. In addition, corn and wheat prices are also recovering positively. In yesterday's trading session, corn prices rose from the lowest price range in 4 years. Although the market is still under pressure due to good supply prospects in the US, technical buying pressure has helped the market recover. Ukraine's corn production could fall to 20-21 million tonnes ...

Source: Baochinhphu