The U.S. dollar (USD) remained at elevated levels within the Atten Babler Commodities Ethanol Foreign Exchange (FX) Indexes, although slight declines were experienced during Apr ’15. The USD/Ethanol Producer FX Index and USD/Domestic Ethanol Importer FX Index declined 1.1 and 1.2 points, respectively throughout the month, however both indices remain at the second highest figures experienced in the past ten years. USD/Ethanol Producer FX Index: The USD/Ethanol Producer FX Index declined 1.1 points in Apr ’15 from the 12 year high experienced in Mar ’15 to a value of 118.7. The USD/Ethanol Producer FX Index remains at the second highest figure experienced in the past ten years and has increased 12.4 points since the beginning of 2014 and 10.4 points throughout the past six months. A strengthening USD/Ethanol Producer FX Index reduces the competitiveness of U.S. ethanol relative to other major producing regions, 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, despite the Brazilian real strengthening against the USD in Apr ’15. USD/Domestic Ethanol Importer FX Index: The USD/Domestic Ethanol Importer FX Index declined 1.2 points in Apr ’15 from the 10 and a half year high experienced in Mar ’15 to a value of 105.2. The USD/Domestic Ethanol Importer FX Index remains at the second highest figure experienced in the past ten years and has increased 13.2 points since the beginning of 2014 and 9.2 points throughout the past six months. A strengthening USD/Domestic Ethanol Importer FX Index results in less purchasing power for the traditional buyers of U.S. ethanol, ultimately resulting in less foreign demand, all other factors being equal. USD appreciation against the Canadian dollar has accounted for the majority of the gains since the beginning of 2014, despite the Canadian dollar strengthening against the USD in Apr ’15.