The Vietnam Commodity Exchange (MXV) said that at closing, the MXV-Index fell more than 2% to 2,169 points.

Energy commodity market is on fire. Source: MXV

According to MXV, oil prices have just experienced their second consecutive week of decline as the global market faces many uncertainties regarding supply, while investor sentiment is under pressure amid concerns about the health of the world's number one economy.

Speculation that OPEC+ will continue to increase production sharply in June, following the decision to increase production in May, has caused Brent and WTI oil prices to fall sharply by 5.61% and 7.63%, respectively, in just three days from April 28 to 30.

Agricultural commodity market is "bright red". Source: MXV

Meanwhile, the agricultural market recorded negative developments when all 7 commodities in the group weakened. Of which, corn and wheat both ended the trading week in red, clearly reflecting the impact of supply-demand factors as well as technical developments.

Corn prices alone recorded their third consecutive weekly decline, losing about 3.4% to $184 per ton, while wheat prices fell slightly by 0.37% to $199 per ton thanks to strong recovery in the last sessions of the week.

The downward pressure on corn prices is both technical and psychological after an unsustainable rally. The latest Export Sales report shows that the US will sell just 1.01 million tons of corn for the 2024-25 marketing year, below the recent average.

Despite the participation of many large customers such as South Korea, Vietnam, Israel and Mexico, demand is still not strong enough to create momentum for price increases. Information about Türkiye opening a duty-free import quota of 1 million tons of corn is only a slight support and has not created a clear impact on the market.

Source: https://hanoimoi.vn/sac-do-bao-trum-thi-truong-hang-hoa-701220.html