Atten Babler Corn & Soybeans FX Indices – Sep…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices declined slightly throughout Aug ’16 but continued to remain near record high levels. The USD/Domestic Corn Importer FX Index declined the most throughout the month, followed by the USD/Corn Importer FX Index and the USD/Corn Exporter FX Index. Despite the declines, all three indices remained near record highs experienced throughout the past six months.
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 0.8 points during Aug ’16, finishing at a value of 236.3. The USD/Corn Exporter FX Index has declined 13.4 points from the record high experienced six month ago but remains up 155.6 points since the beginning of 2014. 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 Aug ’16 was led by gains by the Argentine peso, followed by gains by the Brazilian real, South African rand and Serbian dinar. USD gains were exhibited against the Ukrainian hryvnia.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index declined 1.0 points during Aug ’16, finishing at a value of 145.2. The USD/Corn Importer FX Index remained at the fourth highest figure on record and has increased 48.5 points since the beginning of 2014 and 10.1 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.
Appreciation against the USD within the USD/Corn Importer FX Index during Aug ’16 was led by gains by the Japanese yen, followed by gains by the South Korean won, euro, Mexican peso and Iranian rial.
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 1.2 points during Aug ’16, finishing at a value of 66.0. The USD/Domestic Corn Importer FX Index remained at the fifth highest figure on record and has increased 35.4 points since the beginning of 2014 and 7.7 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.
Appreciation against the USD within the USD/Domestic Corn Importer FX Index during Aug ’16 was led by gains by the Japanese yen, followed by gains by the South Korean won, Mexican peso and Taiwan new dollar. USD gains were exhibited against the Columbian peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also declined throughout Aug ’16 but remained near recently experienced highs. The USD/Soybeans Exporter FX Index declined the most throughout the month, followed by the USD/Soybeans Importer FX Index and USD/Domestic Soybeans Importer FX Index.
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 2.1 points during Aug ’16, finishing at a value of 137.6. The USD/Soybeans Exporter FX Index has declined 17.9 points throughout the past six months but remains up 85.1 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.
Appreciation against the USD within the USD/Soybeans Exporter FX Index during Aug ’16 was led by gains by the Brazilian real, followed by gains by the Argentine peso, Paraguayan guarani and Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index declined 0.5 points during Aug ’16, finishing at a value of 2.3. The USD/Soybeans Importer FX Index has declined by 0.3 points throughout the past six months but remains up 14.6 points 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.
Appreciation against the USD within the USD/Soybeans Importer FX Index during Aug ’16 was led by gains by the Chinese yuan renminbi, followed by gains by the euro, Japanese yen, Mexican peso and Taiwan new dollar.
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 0.5 points during Aug ’16, finishing at a value of 4.8. The USD/Domestic Soybeans Importer FX Index has declined by 0.4 points throughout the past six months but remains up 14.7 points 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 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 Aug ’16 was led by gains by the Chinese yuan renminbi, followed by gains by the Japanese yen, Mexican peso, Taiwan new dollar and euro.
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index declined 0.8 points during Aug ’16, finishing at a value of 236.3. The USD/Corn Exporter FX Index has declined 13.4 points from the record high experienced six month ago but remains up 155.6 points since the beginning of 2014. 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 Aug ’16 was led by gains by the Argentine peso, followed by gains by the Brazilian real, South African rand and Serbian dinar. USD gains were exhibited against the Ukrainian hryvnia.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index declined 1.0 points during Aug ’16, finishing at a value of 145.2. The USD/Corn Importer FX Index remained at the fourth highest figure on record and has increased 48.5 points since the beginning of 2014 and 10.1 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.
Appreciation against the USD within the USD/Corn Importer FX Index during Aug ’16 was led by gains by the Japanese yen, followed by gains by the South Korean won, euro, Mexican peso and Iranian rial.
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 1.2 points during Aug ’16, finishing at a value of 66.0. The USD/Domestic Corn Importer FX Index remained at the fifth highest figure on record and has increased 35.4 points since the beginning of 2014 and 7.7 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.
Appreciation against the USD within the USD/Domestic Corn Importer FX Index during Aug ’16 was led by gains by the Japanese yen, followed by gains by the South Korean won, Mexican peso and Taiwan new dollar. USD gains were exhibited against the Columbian peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also declined throughout Aug ’16 but remained near recently experienced highs. The USD/Soybeans Exporter FX Index declined the most throughout the month, followed by the USD/Soybeans Importer FX Index and USD/Domestic Soybeans Importer FX Index.
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 2.1 points during Aug ’16, finishing at a value of 137.6. The USD/Soybeans Exporter FX Index has declined 17.9 points throughout the past six months but remains up 85.1 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.
Appreciation against the USD within the USD/Soybeans Exporter FX Index during Aug ’16 was led by gains by the Brazilian real, followed by gains by the Argentine peso, Paraguayan guarani and Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index declined 0.5 points during Aug ’16, finishing at a value of 2.3. The USD/Soybeans Importer FX Index has declined by 0.3 points throughout the past six months but remains up 14.6 points 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.
Appreciation against the USD within the USD/Soybeans Importer FX Index during Aug ’16 was led by gains by the Chinese yuan renminbi, followed by gains by the euro, Japanese yen, Mexican peso and Taiwan new dollar.
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 0.5 points during Aug ’16, finishing at a value of 4.8. The USD/Domestic Soybeans Importer FX Index has declined by 0.4 points throughout the past six months but remains up 14.7 points 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 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 Aug ’16 was led by gains by the Chinese yuan renminbi, followed by gains by the Japanese yen, Mexican peso, Taiwan new dollar and euro.