Atten Babler Corn & Soybeans FX Indices – Dec…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices remained at or near record high levels during Nov ’15. The USD/Corn Exporter FX Index and USD/Corn Importer FX Index each increased to new record highs, while the USD/Domestic Corn Importer FX Index increased to the second highest figure on record.
Global Corn Net Trade:
Major net corn exporters are led by the U.S., followed by Brazil, Ukraine, Argentina, Russia and India (represented in green in the chart below). Major net corn importers are led by Japan, followed by the EU-28, South Korea, Mexico and Egypt (represented in red in the chart below).
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index increased 6.0 points in Nov ’15 to a new record high value of 281.5. The USD/Corn Exporter FX Index has increased 101.9 points since the beginning of 2014 and 24.4 points throughout the past six months. A strengthening USD/Corn Exporter FX Index reduces the competitiveness of U.S. corn relative to other exporting regions (represented in green in the Global Corn Net Trade chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Ukrainian hryvnia and Argentine peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Corn Exporter FX Index during Nov ’15 was led by gains against the Ukrainian hryvnia, followed by USD appreciated against the Argentine peso, Serbian dinar and Russian ruble. USD declines were exhibited against the Brazilian real.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 1.2 points in Nov ’15 to a new record high value of 235.7. The USD/Corn Importer FX Index has increased 36.7 points since the beginning of 2014 and 11.4 points throughout the past six months. A strengthening USD/Corn Importer FX Index results in less purchasing power for major corn importing countries (represented in red in the Global Corn Net Trade chart), making U.S. corn more expensive to import. USD appreciation against the Iranian rial, Mexican peso and the euro has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Corn Importer FX Index during Nov ’15 was led by gains against the euro, followed by USD appreciated against the Japanese yen, Columbian peso, Algerian dinar and Mexican peso.
U.S. Corn Export Destinations:
Major destinations for U.S. corn are led by Japan, followed by Mexico, South Korea, Columbia, Egypt and China.
USD/Domestic Corn Importer FX Index:
The USD/Domestic Corn Importer FX Index increased 1.3 points in Nov ’15 to a value of 155.2, which was the second highest figure on record. The USD/Domestic Corn Importer FX has increased 23.1 points since the beginning of 2014 and 8.1 points throughout the past six months. A strengthening USD/Domestic Corn Importer FX Index results in less purchasing power for the traditional buyers of U.S. corn (represented in red in the U.S. Corn Export Destinations chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Mexican peso and Japanese yen has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Nov ’15 was led by gains against the Japanese yen, followed by USD appreciated against the Colombian peso, Mexican peso, euro and South Korean won.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also remained near record high levels during Nov ’15. The USD/Soybeans Exporter FX Index declined slightly but remained at the third highest figure on record, while the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each increased slightly, finishing at the second highest figures experienced in the past nine and ten years, respectively.
Global Soybeans Net Trade:
Major net soybeans exporters are led by Brazil, followed by the U.S., Argentina, Paraguay and Uruguay (represented in green in the chart below). Major net soybeans importers are led by China, followed by the EU-28, Mexico, Japan and Taiwan (represented in red in the chart below).
USD/Soybeans Exporter FX Index:
The USD/Soybeans Exporter FX Index declined 1.3 points in Nov ’15 from the record high value experienced in Oct ’15, finishing at a value of 213.2. The USD/Soybeans Exporter FX Index remains at the third highest figure on record and has increased 60.8 points since the beginning of 2014 and 23.3 points throughout the past six months. A strengthening USD/Soybeans Exporter FX Index reduces the competitiveness of U.S. soybeans relative to other exporting regions (represented in green in the Global Soybeans Net Trade chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Brazilian real has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Soybeans Exporter FX Index during Nov ’15 was led by gains by the Brazilian real. USD gains were exhibited against the Canadian dollar and Argentine peso.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 0.7 points in Nov ’15 to a value of 100.4, which was the second highest figure experienced in the past nine years. The USD/Soybeans Importer FX Index has increased 12.0 points since the beginning of 2014 and 5.4 points throughout the past six months. A strengthening USD/Soybeans Importer FX Index results in less purchasing power for major soybeans importing countries (represented in red in the Global Soybeans Net Trade chart), making U.S. soybeans more expensive to import. USD appreciation against the euro, Turkish lira and Chinese yuan renminbi has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Nov ’15 was led by gains against the euro, followed by USD appreciated against the Chinese yuan renminbi, Russian ruble and Japanese yen. USD declines were exhibited against the Turkish lira.
U.S. Soybeans Export Destinations:
Major destinations for U.S. soybeans are led by China, followed by Mexico, Indonesia, Japan, Germany and Taiwan.
USD/Domestic Soybeans Importer FX Index:
The USD/Domestic Soybeans Importer FX Index increased 0.5 points in Nov ’15 to a value of 103.2, which was the second highest figure experienced in the past ten years. The USD/Domestic Soybeans Importer FX has increased 11.9 points since the beginning of 2014 and 5.4 points throughout the past six months. A strengthening USD/Domestic Soybeans Importer FX Index results in less purchasing power for the traditional buyers of U.S. soybeans (represented in red in the U.S. Soybeans Export Destinations chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Mexican peso, Chinese yuan renminbi and Turkish lira has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Soybeans Importer FX Index during Nov ’15 was led by gains against the euro, followed by USD appreciated against the Chinese yuan renminbi and Japanese yen. USD declines were exhibited against the Indonesian rupiah and Turkish lira.
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index increased 6.0 points in Nov ’15 to a new record high value of 281.5. The USD/Corn Exporter FX Index has increased 101.9 points since the beginning of 2014 and 24.4 points throughout the past six months. A strengthening USD/Corn Exporter FX Index reduces the competitiveness of U.S. corn relative to other exporting regions (represented in green in the Global Corn Net Trade chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Ukrainian hryvnia and Argentine peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Corn Exporter FX Index during Nov ’15 was led by gains against the Ukrainian hryvnia, followed by USD appreciated against the Argentine peso, Serbian dinar and Russian ruble. USD declines were exhibited against the Brazilian real.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 1.2 points in Nov ’15 to a new record high value of 235.7. The USD/Corn Importer FX Index has increased 36.7 points since the beginning of 2014 and 11.4 points throughout the past six months. A strengthening USD/Corn Importer FX Index results in less purchasing power for major corn importing countries (represented in red in the Global Corn Net Trade chart), making U.S. corn more expensive to import. USD appreciation against the Iranian rial, Mexican peso and the euro has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Corn Importer FX Index during Nov ’15 was led by gains against the euro, followed by USD appreciated against the Japanese yen, Columbian peso, Algerian dinar and Mexican peso.
U.S. Corn Export Destinations:
Major destinations for U.S. corn are led by Japan, followed by Mexico, South Korea, Columbia, Egypt and China.
USD/Domestic Corn Importer FX Index:
The USD/Domestic Corn Importer FX Index increased 1.3 points in Nov ’15 to a value of 155.2, which was the second highest figure on record. The USD/Domestic Corn Importer FX has increased 23.1 points since the beginning of 2014 and 8.1 points throughout the past six months. A strengthening USD/Domestic Corn Importer FX Index results in less purchasing power for the traditional buyers of U.S. corn (represented in red in the U.S. Corn Export Destinations chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Mexican peso and Japanese yen has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Nov ’15 was led by gains against the Japanese yen, followed by USD appreciated against the Colombian peso, Mexican peso, euro and South Korean won.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also remained near record high levels during Nov ’15. The USD/Soybeans Exporter FX Index declined slightly but remained at the third highest figure on record, while the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each increased slightly, finishing at the second highest figures experienced in the past nine and ten years, respectively.
Global Soybeans Net Trade:
Major net soybeans exporters are led by Brazil, followed by the U.S., Argentina, Paraguay and Uruguay (represented in green in the chart below). Major net soybeans importers are led by China, followed by the EU-28, Mexico, Japan and Taiwan (represented in red in the chart below).
USD/Soybeans Exporter FX Index:
The USD/Soybeans Exporter FX Index declined 1.3 points in Nov ’15 from the record high value experienced in Oct ’15, finishing at a value of 213.2. The USD/Soybeans Exporter FX Index remains at the third highest figure on record and has increased 60.8 points since the beginning of 2014 and 23.3 points throughout the past six months. A strengthening USD/Soybeans Exporter FX Index reduces the competitiveness of U.S. soybeans relative to other exporting regions (represented in green in the Global Soybeans Net Trade chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Brazilian real has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Soybeans Exporter FX Index during Nov ’15 was led by gains by the Brazilian real. USD gains were exhibited against the Canadian dollar and Argentine peso.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 0.7 points in Nov ’15 to a value of 100.4, which was the second highest figure experienced in the past nine years. The USD/Soybeans Importer FX Index has increased 12.0 points since the beginning of 2014 and 5.4 points throughout the past six months. A strengthening USD/Soybeans Importer FX Index results in less purchasing power for major soybeans importing countries (represented in red in the Global Soybeans Net Trade chart), making U.S. soybeans more expensive to import. USD appreciation against the euro, Turkish lira and Chinese yuan renminbi has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Nov ’15 was led by gains against the euro, followed by USD appreciated against the Chinese yuan renminbi, Russian ruble and Japanese yen. USD declines were exhibited against the Turkish lira.
U.S. Soybeans Export Destinations:
Major destinations for U.S. soybeans are led by China, followed by Mexico, Indonesia, Japan, Germany and Taiwan.
USD/Domestic Soybeans Importer FX Index:
The USD/Domestic Soybeans Importer FX Index increased 0.5 points in Nov ’15 to a value of 103.2, which was the second highest figure experienced in the past ten years. The USD/Domestic Soybeans Importer FX has increased 11.9 points since the beginning of 2014 and 5.4 points throughout the past six months. A strengthening USD/Domestic Soybeans Importer FX Index results in less purchasing power for the traditional buyers of U.S. soybeans (represented in red in the U.S. Soybeans Export Destinations chart), ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Mexican peso, Chinese yuan renminbi and Turkish lira has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Soybeans Importer FX Index during Nov ’15 was led by gains against the euro, followed by USD appreciated against the Chinese yuan renminbi and Japanese yen. USD declines were exhibited against the Indonesian rupiah and Turkish lira.