Atten Babler Corn & Soybeans FX Indices – Nov…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices were mixed throughout Oct ’16. The USD/Corn Exporter FX Index declined throughout the month however the USD/Domestic Corn Importer FX Index finished flat while the USD/Corn Importer FX Index increased throughout the month.
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 the EU-28, followed by Japan, Mexico, South Korea, Egypt and Iran (represented in red in the chart below).
The United States accounts for over 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 declined 1.4 points during Oct ’16, finishing at a value of 241.3. Despite the decline, the USD/Corn Exporter FX Index remains up 3.5 points over the past six months and 160.6 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 Oct ’16 was led by gains by the Ukrainian hryvnia, followed by gains by the Brazilian real and Russian ruble. USD gains were exhibited against the Serbian dinar and Argentine peso.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 0.6 points during Oct ’16, finishing at a value of 146.7. The USD/Corn Importer FX Index has increased 0.8 points throughout the past six months and 49.9 points since the beginning of 2014. 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 Oct ’16 was led by gains against the Turkish lira, followed by USD appreciation against the Japanese yen, euro and South Korean won. USD declines were exhibited against the Mexican 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 was flat during Oct ’16, finishing at a value of 67.9. The USD/Domestic Corn Importer FX Index remains up 1.6 points throughout the past six months and 37.3 points since the beginning of 2014. 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 Oct ’16 was led by gains against the Japanese yen, followed by USD appreciation against the South Korean won, euro and Chinese yuan renminbi. USD declines were exhibited against the Mexican peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices were also mixed throughout Oct ’16. The USD/Soybeans Exporter FX Index declined slightly however the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each increased slightly throughout the month.
Global Soybeans Net Trade:
Major net soybeans exporters are led by Brazil, followed by the U.S., Argentina, Paraguay and Canada (represented in green in the chart below). Major net soybeans importers are led by China, followed by the EU-28, Mexico and Japan (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 declined 0.7 points during Oct ’16, finishing at a value of 139.9. The USD/Soybeans Exporter FX Index has declined by 3.4 points throughout the past six months but remains up 87.3 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 Oct ’16 was led by gains by the Brazilian real. USD gains were exhibited against the Canadian dollar, Paraguayan guarani and Argentine peso.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 0.7 points during Oct ’16, finishing at a value of 3.5. The USD/Soybeans Importer FX Index has increased 2.9 points throughout the past six months and 15.8 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 and Turkish lira has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Oct ’16 was led by gains against the Chinese yuan renminbi, followed by USD appreciation against the Turkish lira and euro. USD declines were exhibited against the Mexican peso and Russian ruble.
U.S. Soybeans Export Destinations:
Major destinations for U.S. soybeans are led by China, followed by Mexico, Indonesia and Japan.
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 0.4 points during Oct ’16, finishing at a record high value of 6.0. The USD/Domestic Soybeans Importer FX Index has increased 3.1 points throughout the past six months and 15.9 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 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 Oct ’16 was led by gains against the Chinese yuan renminbi, followed by USD appreciation against the Turkish lira and Japanese yen. USD declines were exhibited against the Russian ruble and Mexican peso.
The United States accounts for over 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 declined 1.4 points during Oct ’16, finishing at a value of 241.3. Despite the decline, the USD/Corn Exporter FX Index remains up 3.5 points over the past six months and 160.6 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 Oct ’16 was led by gains by the Ukrainian hryvnia, followed by gains by the Brazilian real and Russian ruble. USD gains were exhibited against the Serbian dinar and Argentine peso.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 0.6 points during Oct ’16, finishing at a value of 146.7. The USD/Corn Importer FX Index has increased 0.8 points throughout the past six months and 49.9 points since the beginning of 2014. 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 Oct ’16 was led by gains against the Turkish lira, followed by USD appreciation against the Japanese yen, euro and South Korean won. USD declines were exhibited against the Mexican 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 was flat during Oct ’16, finishing at a value of 67.9. The USD/Domestic Corn Importer FX Index remains up 1.6 points throughout the past six months and 37.3 points since the beginning of 2014. 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 Oct ’16 was led by gains against the Japanese yen, followed by USD appreciation against the South Korean won, euro and Chinese yuan renminbi. USD declines were exhibited against the Mexican peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices were also mixed throughout Oct ’16. The USD/Soybeans Exporter FX Index declined slightly however the USD/Soybeans Importer FX Index and the USD/Domestic Soybeans Importer FX Index each increased slightly throughout the month.
Global Soybeans Net Trade:
Major net soybeans exporters are led by Brazil, followed by the U.S., Argentina, Paraguay and Canada (represented in green in the chart below). Major net soybeans importers are led by China, followed by the EU-28, Mexico and Japan (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 declined 0.7 points during Oct ’16, finishing at a value of 139.9. The USD/Soybeans Exporter FX Index has declined by 3.4 points throughout the past six months but remains up 87.3 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 Oct ’16 was led by gains by the Brazilian real. USD gains were exhibited against the Canadian dollar, Paraguayan guarani and Argentine peso.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 0.7 points during Oct ’16, finishing at a value of 3.5. The USD/Soybeans Importer FX Index has increased 2.9 points throughout the past six months and 15.8 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 and Turkish lira has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Oct ’16 was led by gains against the Chinese yuan renminbi, followed by USD appreciation against the Turkish lira and euro. USD declines were exhibited against the Mexican peso and Russian ruble.
U.S. Soybeans Export Destinations:
Major destinations for U.S. soybeans are led by China, followed by Mexico, Indonesia and Japan.
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 0.4 points during Oct ’16, finishing at a record high value of 6.0. The USD/Domestic Soybeans Importer FX Index has increased 3.1 points throughout the past six months and 15.9 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 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 Oct ’16 was led by gains against the Chinese yuan renminbi, followed by USD appreciation against the Turkish lira and Japanese yen. USD declines were exhibited against the Russian ruble and Mexican peso.