Atten Babler Corn & Soybeans FX Indices – Mar…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices continued to increase to new record high levels during Feb ’16. The USD/Corn Exporter FX Index increased the most during the month, followed by the USD/Domestic Corn Importer FX Index and the USD/Corn Importer FX Index.
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 17.9 points in Feb ’16 to a new record high value of 347.2. The USD/Corn Exporter FX Index has increased 167.6 points since the beginning of 2014 and 78.5 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.
USD appreciation within the USD/Corn Exporter FX Index during Feb ’16 was led by gains against the Argentine peso, followed by USD appreciated against the Ukrainian hryvnia and Russian ruble. USD declines were exhibited against the Serbian dinar and Brazilian real.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 0.5 points in Feb ’16 to a new record high value of 238.0. The USD/Corn Importer FX Index 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.
USD appreciation within the USD/Corn Importer FX Index during Feb ’16 was led by gains against the Iranian rial, followed by USD appreciated against the Mexican peso and South Korean won. USD declines were exhibited against the euro 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 2.2 points in Feb ’16 to a new record high value of 159.3. The USD/Domestic Corn Importer FX Index has increased 27.2 points since the beginning of 2014 and 7.5 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.
USD appreciation within the USD/Domestic Corn Importer FX Index during Feb ’16 was led by gains against the Mexican peso, followed by USD appreciated against the Colombian peso, South Korean won and Peruvian nuevo sol. USD declines were exhibited against the Japanese yen.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also remained at or near recent highs during Feb ’16. The USD/Soybeans Exporter FX Index increased to a new record high while the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each declined marginally, finishing slightly below recently experienced 11 and 13 year highs, 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 increased 7.1 points in Feb ’16 to a new record high value of 255.6. The USD/Soybeans Exporter FX Index has increased 103.2 points since the beginning of 2014 and 52.3 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 Argentine peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Exporter FX Index during Feb ’16 was led by gains against the Argentine peso. USD declines were exhibited against the Canadian dollar, Paraguayan guarani and Brazilian real.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index declined 0.5 points in Feb ’16 to a value of 102.9. The USD/Soybeans Importer FX Index remains at the second highest figure experienced in the past 11 years and has increased 14.5 points since the beginning of 2014 and 3.4 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 Chinese yuan renminbi, Russian ruble and Turkish lira 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 Feb ’16 was led by gains by the euro, followed by gains by the Turkish lira, Chinese yuan renminbi and Japanese yen. USD appreciation was exhibited against the Mexican peso.
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 0.3 points in Feb ’16 to a value of 106.2. The USD/Domestic Soybeans Importer FX Index remains at the second highest figure experienced in the past 13 years and has increased 14.8 points since the beginning of 2014 and 3.6 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 Feb ’16 was led by gains by the Indonesian rupiah, followed by gains by the Japanese yen, Chinese yuan renminbi and Turkish lira. USD appreciation was exhibited against the Mexican peso.
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index increased 17.9 points in Feb ’16 to a new record high value of 347.2. The USD/Corn Exporter FX Index has increased 167.6 points since the beginning of 2014 and 78.5 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.
USD appreciation within the USD/Corn Exporter FX Index during Feb ’16 was led by gains against the Argentine peso, followed by USD appreciated against the Ukrainian hryvnia and Russian ruble. USD declines were exhibited against the Serbian dinar and Brazilian real.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 0.5 points in Feb ’16 to a new record high value of 238.0. The USD/Corn Importer FX Index 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.
USD appreciation within the USD/Corn Importer FX Index during Feb ’16 was led by gains against the Iranian rial, followed by USD appreciated against the Mexican peso and South Korean won. USD declines were exhibited against the euro 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 2.2 points in Feb ’16 to a new record high value of 159.3. The USD/Domestic Corn Importer FX Index has increased 27.2 points since the beginning of 2014 and 7.5 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.
USD appreciation within the USD/Domestic Corn Importer FX Index during Feb ’16 was led by gains against the Mexican peso, followed by USD appreciated against the Colombian peso, South Korean won and Peruvian nuevo sol. USD declines were exhibited against the Japanese yen.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also remained at or near recent highs during Feb ’16. The USD/Soybeans Exporter FX Index increased to a new record high while the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each declined marginally, finishing slightly below recently experienced 11 and 13 year highs, 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 increased 7.1 points in Feb ’16 to a new record high value of 255.6. The USD/Soybeans Exporter FX Index has increased 103.2 points since the beginning of 2014 and 52.3 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 Argentine peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Exporter FX Index during Feb ’16 was led by gains against the Argentine peso. USD declines were exhibited against the Canadian dollar, Paraguayan guarani and Brazilian real.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index declined 0.5 points in Feb ’16 to a value of 102.9. The USD/Soybeans Importer FX Index remains at the second highest figure experienced in the past 11 years and has increased 14.5 points since the beginning of 2014 and 3.4 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 Chinese yuan renminbi, Russian ruble and Turkish lira 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 Feb ’16 was led by gains by the euro, followed by gains by the Turkish lira, Chinese yuan renminbi and Japanese yen. USD appreciation was exhibited against the Mexican peso.
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 0.3 points in Feb ’16 to a value of 106.2. The USD/Domestic Soybeans Importer FX Index remains at the second highest figure experienced in the past 13 years and has increased 14.8 points since the beginning of 2014 and 3.6 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 Feb ’16 was led by gains by the Indonesian rupiah, followed by gains by the Japanese yen, Chinese yuan renminbi and Turkish lira. USD appreciation was exhibited against the Mexican peso.