Atten Babler Corn & Soybeans FX Indices – May…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices continued to remain at or near record high levels during Apr ’16. The USD/Corn Exporter FX Index declined for the second consecutive month but remained at the third highest figure on record while the USD/Corn Importer FX Index and USD/Domestic Corn Importer FX Index each finished the month at new record high levels.
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 finished lower for the second consecutive month during Apr ’16, declining 9.9 points to a value of 334.7. The USD/Corn Exporter FX Index remained at the third highest figure on record and has increased 155.0 points since the beginning of 2014 and 59.1 points throughout the past six months. A strong 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 Apr ’16 was led by gains by the Argentine peso, followed by gains by the Ukrainian hryvnia, Brazilian real, Russian ruble and Serbian dinar.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 12.1 points during Apr ’16 to a new record high value of 249.4. The USD/Corn Importer FX Index has increased 50.5 points since the beginning of 2014 and 14.9 points throughout the past six months. A strong 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 Venezuelan bolivar has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Corn Importer FX Index during Apr ’16 was led by gains against the Venezuelan bolivar, followed by USD appreciation against the Egyptian pound. USD declines were exhibited against the euro, South Korean won and Japanese yen.
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 11.4 points during Apr ’16 to a new record high value of 168.9. The USD/Domestic Corn Importer FX Index has increased 36.7 points since the beginning of 2014 and 14.9 points throughout the past six months. A strong 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 Venezuelan bolivar and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Apr ’16 was led by gains against the Venezuelan bolivar, followed by gains against the Egyptian pound. USD declines were exhibited against the Mexican peso, Columbian peso and Japanese yen.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices declined for the second consecutive month during Apr ’16 but remained near recent highs. The USD/Soybeans Exporter FX Index remained at the fourth highest figure on record while the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each remained at the fifth 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 finished lower for the second consecutive month during Apr ’16, declining 7.5 points to a value of 242.5. The USD/Soybeans Exporter FX Index remained at the fourth highest figure on record and has increased 90.1 points since the beginning of 2014 and 28.1 points throughout the past six months. A strong 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 Apr ’16 was led by gains by the Argentine peso, followed by gains by the Brazilian real, Paraguayan guarani and Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index finished lower for the third consecutive month during Apr ’16, declining 0.7 points to a value of 100.9. The USD/Soybeans Importer FX Index remained at the fifth highest figure experienced in the past ten years and has increased 12.5 points since the beginning of 2014 and 1.2 points throughout the past six months. A strong 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 Apr ’16 was led by gains by the Chinese yuan renminbi, followed by gains by the euro, Russian ruble 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 finished lower for the third consecutive month during Apr ’16, declining 0.6 points to a value of 104.0. The USD/Domestic Soybeans Importer FX Index remained at the fifth highest figure experienced in the past ten years and has increased 12.6 points since the beginning of 2014 and 1.3 points throughout the past six months. A strong 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 Apr ’16 was led by gains by the Chinese yuan renminbi, followed by gains by the Japanese yen, Russian ruble and Mexican peso. USD appreciation was exhibited against the Egyptian pound.
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index finished lower for the second consecutive month during Apr ’16, declining 9.9 points to a value of 334.7. The USD/Corn Exporter FX Index remained at the third highest figure on record and has increased 155.0 points since the beginning of 2014 and 59.1 points throughout the past six months. A strong 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 Apr ’16 was led by gains by the Argentine peso, followed by gains by the Ukrainian hryvnia, Brazilian real, Russian ruble and Serbian dinar.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 12.1 points during Apr ’16 to a new record high value of 249.4. The USD/Corn Importer FX Index has increased 50.5 points since the beginning of 2014 and 14.9 points throughout the past six months. A strong 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 Venezuelan bolivar has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Corn Importer FX Index during Apr ’16 was led by gains against the Venezuelan bolivar, followed by USD appreciation against the Egyptian pound. USD declines were exhibited against the euro, South Korean won and Japanese yen.
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 11.4 points during Apr ’16 to a new record high value of 168.9. The USD/Domestic Corn Importer FX Index has increased 36.7 points since the beginning of 2014 and 14.9 points throughout the past six months. A strong 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 Venezuelan bolivar and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Apr ’16 was led by gains against the Venezuelan bolivar, followed by gains against the Egyptian pound. USD declines were exhibited against the Mexican peso, Columbian peso and Japanese yen.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices declined for the second consecutive month during Apr ’16 but remained near recent highs. The USD/Soybeans Exporter FX Index remained at the fourth highest figure on record while the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each remained at the fifth 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 finished lower for the second consecutive month during Apr ’16, declining 7.5 points to a value of 242.5. The USD/Soybeans Exporter FX Index remained at the fourth highest figure on record and has increased 90.1 points since the beginning of 2014 and 28.1 points throughout the past six months. A strong 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 Apr ’16 was led by gains by the Argentine peso, followed by gains by the Brazilian real, Paraguayan guarani and Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index finished lower for the third consecutive month during Apr ’16, declining 0.7 points to a value of 100.9. The USD/Soybeans Importer FX Index remained at the fifth highest figure experienced in the past ten years and has increased 12.5 points since the beginning of 2014 and 1.2 points throughout the past six months. A strong 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 Apr ’16 was led by gains by the Chinese yuan renminbi, followed by gains by the euro, Russian ruble 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 finished lower for the third consecutive month during Apr ’16, declining 0.6 points to a value of 104.0. The USD/Domestic Soybeans Importer FX Index remained at the fifth highest figure experienced in the past ten years and has increased 12.6 points since the beginning of 2014 and 1.3 points throughout the past six months. A strong 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 Apr ’16 was led by gains by the Chinese yuan renminbi, followed by gains by the Japanese yen, Russian ruble and Mexican peso. USD appreciation was exhibited against the Egyptian pound.