Atten Babler Corn & Soybeans FX Indices – Aug…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices continued to remain near record high levels during Jul ’16. The USD/Corn Exporter FX Index declined slightly but remained at the fifth highest figure on record while the USD/Corn Importer FX Index and USD/Domestic Corn Importer FX Index each increased to the second highest figures 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 0.3 points during Jul ’16, finishing at a value of 237.1. The USD/Corn Exporter FX Index remained at the fifth highest figure on record and has increased 156.3 points since the beginning of 2014 and 3.3 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 Jul ’16 was led by gains by the Argentine peso, followed by gains by the South African rand. USD gains were exhibited against the Russian ruble, Ukrainian hryvnia and Brazilian real.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 0.3 points during Jul ’16, finishing at a value of 146.2. The USD/Corn Importer FX Index finished at the second highest figure on record and has increased 49.4 points since the beginning of 2014 and 17.6 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 Jul ’16 was led by gains against the Turkish lira, followed by gains against the Japanese yen and Mexican peso. USD declines were exhibited against the Iranian rial and South Korean won.
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 0.4 points during Jul ’16, finishing at a value of 67.2. The USD/Domestic Corn Importer FX Index finished at the second highest figure on record and has increased 36.6 points since the beginning of 2014 and 16.3 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 Mexican peso and Venezuelan bolivar has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Jul ’16 was led by gains against the Japanese yen, followed by gains against the Mexican peso and Columbian peso. USD declines were exhibited against the Taiwan new dollar and South Korean won.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also continued to remain near recently experienced highs during Jul ’16. The USD/Soybeans Exporter FX Index increased for the first time in five months while the USD/Soybeans Importer FX Index and USD/Domestic Soybeans Importer FX Index each continued to advance throughout the month.
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 for the first time in five months during Jul ’16, finishing up 0.4 points to a value of 139.7. The USD/Soybeans Exporter FX Index has declined 10.5 points throughout the past six months but remains up 87.1 points since the beginning of 2014. 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.
USD appreciation within the USD/Soybeans Exporter FX Index during Jul ’16 was led by gains against the Brazilian real, followed by gains against the Canadian dollar. USD declines were exhibited against the Paraguayan guarani and Argentine peso.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 0.5 points during Jul ’16, finishing at a value of 2.8. The USD/Soybeans Importer FX Index has declined by 0.5 points throughout the past six months but remains 15.1 points higher since the beginning of 2014. 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 euro has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Jul ’16 was led by gains against the Chinese yuan renminbi, followed by gains against the Turkish lira, euro, Mexican peso and Japanese yen.
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 0.4 points during Jul ’16, finishing at a value of 5.3. The USD/Domestic Soybeans Importer FX Index has declined by 0.4 points throughout the past six months but remains 15.2 points higher since the beginning of 2014. 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 Chinese yuan renminbi and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Soybeans Importer FX Index during Jul ’16 was led by gains against the Chinese yuan renminbi, followed by gains against the Turkish lira, Mexican peso and Japanese yen. USD declines were exhibited against the Indonesian rupiah.
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index declined 0.3 points during Jul ’16, finishing at a value of 237.1. The USD/Corn Exporter FX Index remained at the fifth highest figure on record and has increased 156.3 points since the beginning of 2014 and 3.3 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 Jul ’16 was led by gains by the Argentine peso, followed by gains by the South African rand. USD gains were exhibited against the Russian ruble, Ukrainian hryvnia and Brazilian real.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 0.3 points during Jul ’16, finishing at a value of 146.2. The USD/Corn Importer FX Index finished at the second highest figure on record and has increased 49.4 points since the beginning of 2014 and 17.6 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 Jul ’16 was led by gains against the Turkish lira, followed by gains against the Japanese yen and Mexican peso. USD declines were exhibited against the Iranian rial and South Korean won.
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 0.4 points during Jul ’16, finishing at a value of 67.2. The USD/Domestic Corn Importer FX Index finished at the second highest figure on record and has increased 36.6 points since the beginning of 2014 and 16.3 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 Mexican peso and Venezuelan bolivar has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Jul ’16 was led by gains against the Japanese yen, followed by gains against the Mexican peso and Columbian peso. USD declines were exhibited against the Taiwan new dollar and South Korean won.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also continued to remain near recently experienced highs during Jul ’16. The USD/Soybeans Exporter FX Index increased for the first time in five months while the USD/Soybeans Importer FX Index and USD/Domestic Soybeans Importer FX Index each continued to advance throughout the month.
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 for the first time in five months during Jul ’16, finishing up 0.4 points to a value of 139.7. The USD/Soybeans Exporter FX Index has declined 10.5 points throughout the past six months but remains up 87.1 points since the beginning of 2014. 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.
USD appreciation within the USD/Soybeans Exporter FX Index during Jul ’16 was led by gains against the Brazilian real, followed by gains against the Canadian dollar. USD declines were exhibited against the Paraguayan guarani and Argentine peso.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 0.5 points during Jul ’16, finishing at a value of 2.8. The USD/Soybeans Importer FX Index has declined by 0.5 points throughout the past six months but remains 15.1 points higher since the beginning of 2014. 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 euro has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Jul ’16 was led by gains against the Chinese yuan renminbi, followed by gains against the Turkish lira, euro, Mexican peso and Japanese yen.
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 0.4 points during Jul ’16, finishing at a value of 5.3. The USD/Domestic Soybeans Importer FX Index has declined by 0.4 points throughout the past six months but remains 15.2 points higher since the beginning of 2014. 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 Chinese yuan renminbi and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Soybeans Importer FX Index during Jul ’16 was led by gains against the Chinese yuan renminbi, followed by gains against the Turkish lira, Mexican peso and Japanese yen. USD declines were exhibited against the Indonesian rupiah.