Atten Babler Corn & Soybeans FX Indices – Apr…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices declined slightly during Mar ’16 but remained near record highs experienced during the previous month. The USD/Corn Exporter FX Index and USD/Corn Importer FX Index each remained at the second highest figures on record while the USD/Domestic Corn Importer FX Index finished the month at the third 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 declined 2.7 points in Mar ’16 from the record high figure experienced during the previous month, finishing at a value of 344.5. The USD/Corn Exporter FX Index remained at the second highest figure on record and has increased 164.9 points since the beginning of 2014 and 69.7 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 Argentine peso has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Corn Exporter FX Index during Mar ’16 was led by gains by the Brazilian real, followed by gains by the Russian ruble, Ukrainian hryvnia and South African rand. USD appreciation was exhibited against the Argentine peso.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index declined 0.6 points in Mar ’16 from the record high figure experienced during the previous month, finishing at a value of 237.3. The USD/Corn Importer FX Index remained at the second highest figure on record and has increased 39.0 points since the beginning of 2014 and 4.2 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 and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Corn Importer FX Index during Mar ’16 was led by gains by the Mexican peso, followed by gains by the Columbian peso and South Korean won. USD appreciation was exhibited against the Venezuelan bolivar and Egyptian pound.
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 declined 2.6 points in Mar ’16 from the record high figure experienced during the previous month, finishing at a value of 157.4. The USD/Domestic Corn Importer FX Index remained at the third highest figure on record and has increased 25.3 points since the beginning of 2014 and 2.0 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 Columbian peso has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Domestic Corn Importer FX Index during Mar ’16 was led by gains by the Mexican peso, followed by gains by the Columbian peso and Japanese yen. USD appreciation was exhibited against the Venezuelan bolivar and Egyptian pound.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also declined slightly during Mar ’16 but remained near recent highs. The USD/Soybeans Exporter FX Index remained at the second highest figure on record while the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each remained at the third highest figures experienced throughout the past ten years.
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 5.6 points in Mar ’16 from the record high figure experienced during the previous month, finishing at a value of 250.0. The USD/Soybeans Exporter FX Index remained at the second highest figure on record and has increased 97.6 points since the beginning of 2014 and 35.9 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 Argentine peso 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 Mar ’16 was led by gains by the Brazilian real, followed by gains by the Paraguayan guarani and Canadian dollar. USD appreciation was exhibited against the Argentine peso.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index declined 1.3 points in Mar ’16 to a value of 101.6. The USD/Soybeans Importer FX Index remained at the third highest figure experienced in the past ten years and has increased 13.2 points since the beginning of 2014 and 1.0 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 Chinese yuan renminbi, Turkish lira and Russian ruble has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Soybeans Importer FX Index during Mar ’16 was led by gains by the Russian ruble, followed by gains by the Chinese yuan renminbi, Mexican peso and Turkish lira. USD appreciation was exhibited against the Egyptian pound.
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 declined 1.6 points in Mar ’16 to a value of 104.6. The USD/Domestic Soybeans Importer FX Index remained at the third highest figure experienced in the past ten years and has increased 13.2 points since the beginning of 2014 and 0.9 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 and Chinese yuan renminbi has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Domestic Soybeans Importer FX Index during Mar ’16 was led by gains by the Mexican peso, followed by gains by the Chinese yuan renminbi, Russian ruble and Indonesian rupiah. USD appreciation was exhibited against the Egyptian pound.
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index declined 2.7 points in Mar ’16 from the record high figure experienced during the previous month, finishing at a value of 344.5. The USD/Corn Exporter FX Index remained at the second highest figure on record and has increased 164.9 points since the beginning of 2014 and 69.7 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 Argentine peso has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Corn Exporter FX Index during Mar ’16 was led by gains by the Brazilian real, followed by gains by the Russian ruble, Ukrainian hryvnia and South African rand. USD appreciation was exhibited against the Argentine peso.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index declined 0.6 points in Mar ’16 from the record high figure experienced during the previous month, finishing at a value of 237.3. The USD/Corn Importer FX Index remained at the second highest figure on record and has increased 39.0 points since the beginning of 2014 and 4.2 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 and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Corn Importer FX Index during Mar ’16 was led by gains by the Mexican peso, followed by gains by the Columbian peso and South Korean won. USD appreciation was exhibited against the Venezuelan bolivar and Egyptian pound.
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 declined 2.6 points in Mar ’16 from the record high figure experienced during the previous month, finishing at a value of 157.4. The USD/Domestic Corn Importer FX Index remained at the third highest figure on record and has increased 25.3 points since the beginning of 2014 and 2.0 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 Columbian peso has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Domestic Corn Importer FX Index during Mar ’16 was led by gains by the Mexican peso, followed by gains by the Columbian peso and Japanese yen. USD appreciation was exhibited against the Venezuelan bolivar and Egyptian pound.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also declined slightly during Mar ’16 but remained near recent highs. The USD/Soybeans Exporter FX Index remained at the second highest figure on record while the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each remained at the third highest figures experienced throughout the past ten years.
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 5.6 points in Mar ’16 from the record high figure experienced during the previous month, finishing at a value of 250.0. The USD/Soybeans Exporter FX Index remained at the second highest figure on record and has increased 97.6 points since the beginning of 2014 and 35.9 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 Argentine peso 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 Mar ’16 was led by gains by the Brazilian real, followed by gains by the Paraguayan guarani and Canadian dollar. USD appreciation was exhibited against the Argentine peso.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index declined 1.3 points in Mar ’16 to a value of 101.6. The USD/Soybeans Importer FX Index remained at the third highest figure experienced in the past ten years and has increased 13.2 points since the beginning of 2014 and 1.0 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 Chinese yuan renminbi, Turkish lira and Russian ruble has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Soybeans Importer FX Index during Mar ’16 was led by gains by the Russian ruble, followed by gains by the Chinese yuan renminbi, Mexican peso and Turkish lira. USD appreciation was exhibited against the Egyptian pound.
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 declined 1.6 points in Mar ’16 to a value of 104.6. The USD/Domestic Soybeans Importer FX Index remained at the third highest figure experienced in the past ten years and has increased 13.2 points since the beginning of 2014 and 0.9 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 and Chinese yuan renminbi has accounted for the majority of the gains since the beginning of 2014.
Appreciation against the USD within the USD/Domestic Soybeans Importer FX Index during Mar ’16 was led by gains by the Mexican peso, followed by gains by the Chinese yuan renminbi, Russian ruble and Indonesian rupiah. USD appreciation was exhibited against the Egyptian pound.