Atten Babler Corn & Soybeans FX Indices – Dec…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices strengthened throughout Nov ’16. The USD/Corn Importer FX Index and USD/Domestic Corn Importer FX Index each finished at record high levels throughout the month, while the USD/Corn Exporter FX Index finished at an eight month high.
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 increased 3.9 points during Nov ’16, finishing at an eight month high value of 245.3. The USD/Corn Exporter FX Index has increased 11.3 points over the past six months and 164.6 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.
USD appreciation within the USD/Corn Exporter FX Index during Nov ’16 was led by gains against the Argentine peso, followed by USD appreciation against the Brazilian real, Serbian dinar, Russian ruble and Ukrainian hryvnia.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 18.7 points during Nov ’16, finishing at a record high value of 165.4. The USD/Corn Importer FX Index has increased 17.9 points throughout the past six months and 68.7 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 Egyptian pound, 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 Nov ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Mexican peso, Japanese yen, Turkish lira and 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 17.8 points during Nov ’16, finishing at a record high value of 85.7. The USD/Domestic Corn Importer FX Index has increased 17.6 points throughout the past six months and 55.2 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 Egyptian pound has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Nov ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Mexican peso, Japanese yen, Columbian peso and South Korean won.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also strengthened throughout Nov ’16. The USD/Soybeans Importer FX Index and USD/Domestic Soybeans Importer FX Index each finished at record high levels throughout the month, while the USD/Soybeans Exporter FX Index finished at an eight month high.
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 increased 5.0 points during Nov ’16, finishing at an eight month high value of 144.9. The USD/Soybeans Exporter FX Index has increased 4.2 points throughout the past six months and 92.3 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.
USD appreciation within the USD/Soybeans Exporter FX Index during Nov ’16 was led by gains against the Brazilian real, followed by USD appreciation against the Argentine peso, Paraguayan guarani and Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 5.7 points during Nov ’16, finishing at a record high value of 9.2. The USD/Soybeans Importer FX Index has increased 7.6 points throughout the past six months and 21.4 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 Egyptian pound has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Nov ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Chinese yuan renminbi, Turkish lira, Mexican peso and euro.
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 5.8 points during Nov ’16, finishing at a record high value of 11.8. The USD/Domestic Soybeans Importer FX Index has increased 7.6 points throughout the past six months and 21.7 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 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 Nov ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Mexican peso, Chinese yuan renminbi, Turkish lira and Japanese yen.
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 increased 3.9 points during Nov ’16, finishing at an eight month high value of 245.3. The USD/Corn Exporter FX Index has increased 11.3 points over the past six months and 164.6 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.
USD appreciation within the USD/Corn Exporter FX Index during Nov ’16 was led by gains against the Argentine peso, followed by USD appreciation against the Brazilian real, Serbian dinar, Russian ruble and Ukrainian hryvnia.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 18.7 points during Nov ’16, finishing at a record high value of 165.4. The USD/Corn Importer FX Index has increased 17.9 points throughout the past six months and 68.7 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 Egyptian pound, 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 Nov ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Mexican peso, Japanese yen, Turkish lira and 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 17.8 points during Nov ’16, finishing at a record high value of 85.7. The USD/Domestic Corn Importer FX Index has increased 17.6 points throughout the past six months and 55.2 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 Egyptian pound has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Nov ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Mexican peso, Japanese yen, Columbian peso and South Korean won.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also strengthened throughout Nov ’16. The USD/Soybeans Importer FX Index and USD/Domestic Soybeans Importer FX Index each finished at record high levels throughout the month, while the USD/Soybeans Exporter FX Index finished at an eight month high.
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 increased 5.0 points during Nov ’16, finishing at an eight month high value of 144.9. The USD/Soybeans Exporter FX Index has increased 4.2 points throughout the past six months and 92.3 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.
USD appreciation within the USD/Soybeans Exporter FX Index during Nov ’16 was led by gains against the Brazilian real, followed by USD appreciation against the Argentine peso, Paraguayan guarani and Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 5.7 points during Nov ’16, finishing at a record high value of 9.2. The USD/Soybeans Importer FX Index has increased 7.6 points throughout the past six months and 21.4 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 Egyptian pound has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Soybeans Importer FX Index during Nov ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Chinese yuan renminbi, Turkish lira, Mexican peso and euro.
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 5.8 points during Nov ’16, finishing at a record high value of 11.8. The USD/Domestic Soybeans Importer FX Index has increased 7.6 points throughout the past six months and 21.7 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 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 Nov ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Mexican peso, Chinese yuan renminbi, Turkish lira and Japanese yen.