Soy prices are straightening up, ending consecutive declines

The Vietnam (MXV) raw materials scholarship said that the optimistic feeling had returned to the market during the negotiation session yesterday (May 8). At the end, an overwhelming purchasing power supported the MXV index to increase by 0.6% to 2,173 points.

The increase was largely fueled by a strong resumption of energy markets, oil prices jumped by more than 3 %. In addition, on the agricultural market, soy prices have ended a series of three consecutive drops thanks to the support of many positive factors.

The first price recovery ended the series in a row

MXV index

Crude oil prices have increased sharply by 3 %

At the end of the May 8 negotiation session, the price of Brent oil increased significantly by 2.81% to 62.84 USD/barrel, while WTI oil also recorded an impressive increase of 3.17%, closing at 59.91 USD/barrel. These are the highest closing prices of the two petroleum products since early May 2025.

Energy price list

The news that the United Kingdom has concluded a trade agreement with the United States after Mr. Trump announced a global reciprocal tax policy has created optimism on the crude oil market. Under the agreement, the United States will maintain a customs tariff of 10 % on imports from the United Kingdom, while the United Kingdom will reduce its import rate of 5.1 % to 1.8 % and will undertake to expand market access for American products, in particular in the fields of agriculture, automobile, steel and aluminum. This is considered an important step, strengthening economic relations between the two traditional allies, while creating a positive psychological effect on the financial and international raw materials.

The agreement has also created optimism among investors while the market focuses on trade negotiations between the United States and China, which must take place in Switzerland on May 10. US Treasury Secretary Scott Bessent confirmed that he would directly attend this important cycle of negotiations without the presence of President Trump’s main adviser, Peter Navarro. At the same time, China has also confirmed the sending of a high -level delegation to participate, leaving to hope for the possibility of eating trade tensions between the two largest economies in the world.

In addition, the US labor market continued to send positive signals when initial unemployment benefits and continuous requests for unemployment benefits during the work week ended on May 3 have decreased, more strongly than market expectations; Thus further reinforcing the optimism of investors.

The soy market is straightening up

According to MXV, soy prices closed yesterday’s negotiation session with an increase of 0.55% to 383.9 USD/Ton, ending a series of three consecutive decreases thanks to a series of positive support factors, including resumption of soy oil prices and positive export information. It should be noted that the soybean price ratio compared to the new harvest corn continued to expand, reaching a summit of six months to 2.34 %, which suggests a return to preferential soybean plantation in the short term.

Agricultural products price list

The main engine of the resumption of soy -based products, in particular soybean oil, has come from a high resumption of the energy markets and the prices of the Malaysian palm oil.

On the export side, soy sales continued to remain positive according to the weekly report on export sales. Specifically, soy sales during the 2024-2025 campaign reached 377,000 tonnes, while the new campaign has recorded nearly 10,000 tonnes. Despite the absence of new orders from China, total sales remain stable in the current context. Cumulative sales for the 2024-2025 campaign reached 47.72 million tonnes, or 96 % of the objective of the US Ministry of Agriculture (USDA). In particular, in the report on daily export sales, the USDA announced that an additional 225,000 tonnes of new harvest was sold in Pakistan, thus helping to support the feeling of the market.

Brazil’s soybean exports could fall to 12.6 million tonnes in May, said the Brazilian Association of Cereal Exporters (ANEC) – despite the fact that the country has just harvested a record harvest and that China increases its imports in the context of the trade war with the United States. The current ENEC estimate for the month of May, which is subject to new revisions according to the schedules of ships during the coming period, suggests a potential drop of 900,000 tonnes compared to April of this year and May of last year. The drop in exports from Brazil suggests that competitive pressure on the market has diminished, which contributes to supporting prices.

Price of some other goods