Atten Babler Corn & Soybeans FX Indices – Mar…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices declined from record high levels experienced throughout the previous month during Feb ’17. USD/Domestic Corn Importer FX Index declined the most throughout the month, followed by the USD/ Corn Exporter 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 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 5.0 points from the previous month’s record high during Feb ’17, finishing at a value of 249.0. Despite the decline, the USD/Corn Exporter FX Index remains up 12.8 points over the past six months and 168.3 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 Feb ’17 was led by gains by the Argentine peso, followed by gains by the Brazilian real, Ukrainian hryvnia, Russian ruble and South African rand.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index declined 4.1 points from the previous month’s record high during Feb ’17, finishing at a value of 176.0. Despite the decline, the USD/Corn Importer FX Index remains up 30.8 points throughout the past six months and 79.2 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 and Iranian rial 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 Feb ’17 was led by gains by the Egyptian pound, followed by gains by the Mexican peso, South Korean won and Japanese yen. USD gains were exhibited against the 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.
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 7.0 points from the previous month’s record high during Feb ’17, finishing at a value of 88.6. Despite the decline, the USD/Domestic Corn Importer FX Index remains up 22.6 points throughout the past six months and 58.0 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 Egyptian pound and Mexican peso 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 Feb ’17 was led by gains by the Egyptian pound, followed by gains by the Mexican peso, Japanese yen, South Korean won and Columbian peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also finished lower throughout Feb ’17. The USD/Soybeans Exporter FX Index declined the most throughout the month, followed by the USD/Domestic Soybeans Importer FX Index and the 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 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 4.6 points during Feb ’17, finishing at a four month low value of 140.9. Despite recent declines, the USD/Soybeans Exporter FX Index remains up 3.3 points throughout the past six months and 88.3 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 Feb ’17 was led by gains by the Argentine peso, followed by gains by the Brazilian real, Paraguayan guarani and Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index declined 1.8 points during Feb ’17, finishing at a three month low value of 11.0. Despite the decline, the USD/Soybeans Importer FX Index remains up 8.7 points throughout the past six months and 23.3 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, Egyptian pound and Turkish lira 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 Feb ’17 was led by gains by the Egyptian pound, followed by gains by the Mexican peso, Chinese yuan renminbi, Turkish lira 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 declined 2.2 points from the previous month’s record high during Feb ’17, finishing at a value of 13.4. Despite the decline, the USD/Domestic Soybeans Importer FX Index remains up 8.6 points throughout the past six months and 23.3 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.
Appreciation against the USD within the USD/Domestic Soybeans Importer FX Index during Feb ’17 was led by gains by the Mexican peso, followed by gains by the Egyptian pound, 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 declined 5.0 points from the previous month’s record high during Feb ’17, finishing at a value of 249.0. Despite the decline, the USD/Corn Exporter FX Index remains up 12.8 points over the past six months and 168.3 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 Feb ’17 was led by gains by the Argentine peso, followed by gains by the Brazilian real, Ukrainian hryvnia, Russian ruble and South African rand.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index declined 4.1 points from the previous month’s record high during Feb ’17, finishing at a value of 176.0. Despite the decline, the USD/Corn Importer FX Index remains up 30.8 points throughout the past six months and 79.2 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 and Iranian rial 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 Feb ’17 was led by gains by the Egyptian pound, followed by gains by the Mexican peso, South Korean won and Japanese yen. USD gains were exhibited against the 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.
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 7.0 points from the previous month’s record high during Feb ’17, finishing at a value of 88.6. Despite the decline, the USD/Domestic Corn Importer FX Index remains up 22.6 points throughout the past six months and 58.0 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 Egyptian pound and Mexican peso 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 Feb ’17 was led by gains by the Egyptian pound, followed by gains by the Mexican peso, Japanese yen, South Korean won and Columbian peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also finished lower throughout Feb ’17. The USD/Soybeans Exporter FX Index declined the most throughout the month, followed by the USD/Domestic Soybeans Importer FX Index and the 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 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 4.6 points during Feb ’17, finishing at a four month low value of 140.9. Despite recent declines, the USD/Soybeans Exporter FX Index remains up 3.3 points throughout the past six months and 88.3 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 Feb ’17 was led by gains by the Argentine peso, followed by gains by the Brazilian real, Paraguayan guarani and Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index declined 1.8 points during Feb ’17, finishing at a three month low value of 11.0. Despite the decline, the USD/Soybeans Importer FX Index remains up 8.7 points throughout the past six months and 23.3 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, Egyptian pound and Turkish lira 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 Feb ’17 was led by gains by the Egyptian pound, followed by gains by the Mexican peso, Chinese yuan renminbi, Turkish lira 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 declined 2.2 points from the previous month’s record high during Feb ’17, finishing at a value of 13.4. Despite the decline, the USD/Domestic Soybeans Importer FX Index remains up 8.6 points throughout the past six months and 23.3 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.
Appreciation against the USD within the USD/Domestic Soybeans Importer FX Index during Feb ’17 was led by gains by the Mexican peso, followed by gains by the Egyptian pound, Chinese yuan renminbi, Turkish lira and Japanese yen.