Atten Babler Corn & Soybeans FX Indices – Oct…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices strengthened throughout Sep ’16, remaining near record high levels. The USD/Corn Exporter FX Index increased the most throughout 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).
The United States accounts for two fifths of the USD/Corn Exporter FX Index, followed by Brazil at 18%, Ukraine at 16% and Argentina at 10%.
The EU-28 and Japan each account for 14% of the USD/Corn Importer FX Index. Mexico, South Korea, Egypt and Iran each account for between 5-10% of the index.
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index increased 6.5 points during Sep ’16, finishing at a value of 242.8. The USD/Corn Exporter FX Index remains down 6.2 points over the past six months but has increased by 162.0 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.
USD appreciation within the USD/Corn Exporter FX Index during Sep ’16 was led by gains against the Ukrainian hryvnia, followed by USD appreciation against the Argentine peso, Brazilian real and South African rand. USD declines were exhibited against the Russian ruble.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 0.9 points during Sep ’16, finishing at a value of 146.1. The USD/Corn Importer FX Index has increased 49.4 points since the beginning of 2014 and 11.4 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 Sep ’16 was led by gains against the Mexican peso, followed by USD appreciation against the Japanese yen, Malaysian ringgit and Chilean peso. USD declines were exhibited against the Columbian peso.
U.S. Corn Export Destinations:
Major destinations for U.S. corn are led by Japan, followed by Mexico, South Korea, Columbia, Egypt and China.
Japan accounts for 27% of the USD/Domestic Corn Importer FX Index, followed by Mexico at 24% and South Korea at 12%. Columbia, Egypt and China each account for between 5-10% of the index.
USD/Domestic Corn Importer FX Index:
The USD/Domestic Corn Importer FX Index increased 1.9 points during Sep ’16, finishing at a value of 67.9. The USD/Domestic Corn Importer FX Index has increased 37.3 points since the beginning of 2014 and 12.1 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 Sep ’16 was led by gains against the Mexican peso, followed by USD appreciation against the Japanese yen and Peruvian nuevo sol. USD declines were exhibited against the South Korean won and Columbian peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also strengthened throughout Sep ’16, remaining near recently experienced highs. The USD/Soybeans Exporter FX Index increased the most throughout the month, followed by the USD/Domestic Soybeans Importer FX Index and USD/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).
Brazil and the United States each account for over two fifths of the USD/Soybeans Exporter FX Index, followed by Argentina at 7%.
China accounts for nearly two thirds of the USD/Soybeans Importer FX Index, followed by the EU-28 at 12%.
USD/Soybeans Exporter FX Index:
The USD/Soybeans Exporter FX Index increased 3.0 points during Sep ’16, finishing at a value of 140.6. The USD/Soybeans Exporter FX Index remains down 10.8 points throughout the past six months but has increased by 88.1 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 Sep ’16 was led by gains against the Argentine peso, followed by USD appreciation against the Brazilian real, Canadian dollar and Paraguayan guarani.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 0.5 points during Sep ’16, finishing at a value of 2.8. The USD/Soybeans Importer FX Index has increased 15.0 points since the beginning of 2014 and 1.4 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 Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Sep ’16 was led by gains against the Mexican peso, followed by USD appreciation against the Chinese yuan renminbi, Japanese yen and Turkish lira. USD declines were exhibited against the Russian ruble.
U.S. Soybeans Export Destinations:
Major destinations for U.S. soybeans are led by China, followed by Mexico, Indonesia, Japan, Germany and Taiwan.
China accounts for nearly two thirds of the USD/Domestic Soybeans Importer FX Index. Mexico, Indonesia and Japan each account for between 5-10% of the index.
USD/Domestic Soybeans Importer FX Index:
The USD/Domestic Soybeans Importer FX Index increased 0.8 points during Sep ’16, finishing at a value of 5.6. The USD/Domestic Soybeans Importer FX Index has increased 15.4 points since the beginning of 2014 and 1.9 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.
USD appreciation within the USD/Domestic Soybeans Importer FX Index during Sep ’16 was led by gains against the Mexican peso, followed by USD appreciation against the Chinese yuan renminbi and Japanese yen. USD declines were exhibited against the Russian ruble and Indonesian rupiah.
The United States accounts for two fifths of the USD/Corn Exporter FX Index, followed by Brazil at 18%, Ukraine at 16% and Argentina at 10%.
The EU-28 and Japan each account for 14% of the USD/Corn Importer FX Index. Mexico, South Korea, Egypt and Iran each account for between 5-10% of the index.
USD/Corn Exporter FX Index:
The USD/Corn Exporter FX Index increased 6.5 points during Sep ’16, finishing at a value of 242.8. The USD/Corn Exporter FX Index remains down 6.2 points over the past six months but has increased by 162.0 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.
USD appreciation within the USD/Corn Exporter FX Index during Sep ’16 was led by gains against the Ukrainian hryvnia, followed by USD appreciation against the Argentine peso, Brazilian real and South African rand. USD declines were exhibited against the Russian ruble.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 0.9 points during Sep ’16, finishing at a value of 146.1. The USD/Corn Importer FX Index has increased 49.4 points since the beginning of 2014 and 11.4 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 Sep ’16 was led by gains against the Mexican peso, followed by USD appreciation against the Japanese yen, Malaysian ringgit and Chilean peso. USD declines were exhibited against the Columbian peso.
U.S. Corn Export Destinations:
Major destinations for U.S. corn are led by Japan, followed by Mexico, South Korea, Columbia, Egypt and China.
Japan accounts for 27% of the USD/Domestic Corn Importer FX Index, followed by Mexico at 24% and South Korea at 12%. Columbia, Egypt and China each account for between 5-10% of the index.
USD/Domestic Corn Importer FX Index:
The USD/Domestic Corn Importer FX Index increased 1.9 points during Sep ’16, finishing at a value of 67.9. The USD/Domestic Corn Importer FX Index has increased 37.3 points since the beginning of 2014 and 12.1 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 Sep ’16 was led by gains against the Mexican peso, followed by USD appreciation against the Japanese yen and Peruvian nuevo sol. USD declines were exhibited against the South Korean won and Columbian peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also strengthened throughout Sep ’16, remaining near recently experienced highs. The USD/Soybeans Exporter FX Index increased the most throughout the month, followed by the USD/Domestic Soybeans Importer FX Index and USD/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).
Brazil and the United States each account for over two fifths of the USD/Soybeans Exporter FX Index, followed by Argentina at 7%.
China accounts for nearly two thirds of the USD/Soybeans Importer FX Index, followed by the EU-28 at 12%.
USD/Soybeans Exporter FX Index:
The USD/Soybeans Exporter FX Index increased 3.0 points during Sep ’16, finishing at a value of 140.6. The USD/Soybeans Exporter FX Index remains down 10.8 points throughout the past six months but has increased by 88.1 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 Sep ’16 was led by gains against the Argentine peso, followed by USD appreciation against the Brazilian real, Canadian dollar and Paraguayan guarani.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 0.5 points during Sep ’16, finishing at a value of 2.8. The USD/Soybeans Importer FX Index has increased 15.0 points since the beginning of 2014 and 1.4 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 Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Sep ’16 was led by gains against the Mexican peso, followed by USD appreciation against the Chinese yuan renminbi, Japanese yen and Turkish lira. USD declines were exhibited against the Russian ruble.
U.S. Soybeans Export Destinations:
Major destinations for U.S. soybeans are led by China, followed by Mexico, Indonesia, Japan, Germany and Taiwan.
China accounts for nearly two thirds of the USD/Domestic Soybeans Importer FX Index. Mexico, Indonesia and Japan each account for between 5-10% of the index.
USD/Domestic Soybeans Importer FX Index:
The USD/Domestic Soybeans Importer FX Index increased 0.8 points during Sep ’16, finishing at a value of 5.6. The USD/Domestic Soybeans Importer FX Index has increased 15.4 points since the beginning of 2014 and 1.9 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.
USD appreciation within the USD/Domestic Soybeans Importer FX Index during Sep ’16 was led by gains against the Mexican peso, followed by USD appreciation against the Chinese yuan renminbi and Japanese yen. USD declines were exhibited against the Russian ruble and Indonesian rupiah.