Many industrial raw materials and energy products increased in price while red dominated the agricultural and metal markets. At the close, buying power dominated, pushing the MXV-Index up 0.71% to 2,097 points.

MXV-Index

Arabica coffee prices set three-week record

At the end of the trading session on August 7, the prices of two coffee products continued to increase strongly. Specifically, the price of Arabica coffee jumped 4.39%, setting a three-week high; the price of Robusta coffee was also 2.24% higher than the reference price, reaching nearly 4,500 USD/ton. The narrowing USD/BRL exchange rate and concerns about falling temperatures in Brazil pushed prices up.

Industrial raw material price list

Wheat ends 5-session winning streak

Wheat prices fell about 1% yesterday, ending a five-session winning streak. The market faced strong selling pressure in the evening session, amid expectations of higher supplies in the August WASDE world agricultural supply and demand report.

According to Reuters, the US wheat production in 2024-25 is expected to increase to 2.015 billion bushels, up from 2.008 billion bushels in the previous report. This reflects the positive crop situation in recent weeks, especially from the weekly crop progress report. Thanks to the higher production, the US wheat ending stocks in 2024-25 are also expected to increase to 862 million bushels, up from 856 million bushels reported in July. Expectations of further increases in wheat stocks in this report have been a factor that has put pressure on wheat prices.

Agricultural product price list

December corn futures also lost more than 1%, posting a second straight session of decline. The good supply outlook was a factor that contributed to selling pressure in the market.

Brazil's total corn production in 2024-25 is forecast to reach 127 million tons, up 5 million tons from the previous season thanks to the end of the El Nino phenomenon, according to the USDA Brasilia branch. The agency also said that Brazil has surpassed the United States and become the world's largest corn exporter in 2023 after gaining access to the Chinese market.

In addition, the crop situation in the US is also quite positive. The weather forecast for the Corn Belt region in the next 5 days is cool and dry. After this period, rain is likely to return to provide the necessary moisture for crop growth.

Prices of some other goods

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