Atten Babler Corn & Soybeans FX Indices – Jan…
Corn FX Indices:
The Atten Babler Commodities Corn Foreign Exchange (FX) Indices continued to strengthen throughout Dec ’16, each finishing at record high levels. The USD/Corn Importer FX Index increased the most throughout the month, followed by the USD/Domestic Corn Importer FX Index and the USD/Corn Exporter 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 increased 7.6 points during Dec ’16, finishing at a record high value of 252.9. The USD/Corn Exporter FX Index has increased 15.4 points over the past six months and 172.1 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 Dec ’16 was led by gains against the Argentine peso, followed by USD appreciation against the Ukrainian hryvnia, Serbian dinar and Brazilian real. USD declines were exhibited against the Russian ruble.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 8.7 points during Dec ’16, finishing at a record high value of 174.1. The USD/Corn Importer FX Index has increased 28.1 points throughout the past six months and 77.3 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.
USD appreciation within the USD/Corn Importer FX Index during Dec ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Japanese yen, Mexican peso, Turkish lira and euro.
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 8.1 points during Dec ’16, finishing at a record high value of 93.9. The USD/Domestic Corn Importer FX Index has increased 27.0 points throughout the past six months and 63.3 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 Egyptian pound and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Dec ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Japanese yen, Mexican peso and South Korean won. USD declines were exhibited against the Columbian peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also continued to strengthen throughout Dec ’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 a nine 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 4.3 points during Dec ’16, finishing at a nine month high value of 149.2. The USD/Soybeans Exporter FX Index has increased 9.9 points throughout the past six months and 96.6 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 Dec ’16 was led by gains against the Argentine peso, followed by USD appreciation against the Brazilian real and Paraguayan guarani. USD declines were exhibited against the Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 3.2 points during Dec ’16, finishing at a record high value of 12.4. The USD/Soybeans Importer FX Index has increased 10.1 points throughout the past six months and 24.6 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, Egyptian pound 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 Dec ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Chinese yuan renminbi, Turkish lira, euro and Japanese yen.
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 3.2 points during Dec ’16, finishing at a record high value of 15.0. The USD/Domestic Soybeans Importer FX Index has increased 10.1 points throughout the past six months and 24.9 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 Dec ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Chinese yuan renminbi, Mexican peso, 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 7.6 points during Dec ’16, finishing at a record high value of 252.9. The USD/Corn Exporter FX Index has increased 15.4 points over the past six months and 172.1 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 Dec ’16 was led by gains against the Argentine peso, followed by USD appreciation against the Ukrainian hryvnia, Serbian dinar and Brazilian real. USD declines were exhibited against the Russian ruble.
USD/Corn Importer FX Index:
The USD/Corn Importer FX Index increased 8.7 points during Dec ’16, finishing at a record high value of 174.1. The USD/Corn Importer FX Index has increased 28.1 points throughout the past six months and 77.3 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.
USD appreciation within the USD/Corn Importer FX Index during Dec ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Japanese yen, Mexican peso, Turkish lira and euro.
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 8.1 points during Dec ’16, finishing at a record high value of 93.9. The USD/Domestic Corn Importer FX Index has increased 27.0 points throughout the past six months and 63.3 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 Egyptian pound and Mexican peso has accounted for the majority of the gains since the beginning of 2014.
USD appreciation within the USD/Domestic Corn Importer FX Index during Dec ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Japanese yen, Mexican peso and South Korean won. USD declines were exhibited against the Columbian peso.
Soybeans FX Indices:
The Atten Babler Commodities Soybeans Foreign Exchange (FX) Indices also continued to strengthen throughout Dec ’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 a nine 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 4.3 points during Dec ’16, finishing at a nine month high value of 149.2. The USD/Soybeans Exporter FX Index has increased 9.9 points throughout the past six months and 96.6 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 Dec ’16 was led by gains against the Argentine peso, followed by USD appreciation against the Brazilian real and Paraguayan guarani. USD declines were exhibited against the Canadian dollar.
USD/Soybeans Importer FX Index:
The USD/Soybeans Importer FX Index increased 3.2 points during Dec ’16, finishing at a record high value of 12.4. The USD/Soybeans Importer FX Index has increased 10.1 points throughout the past six months and 24.6 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, Egyptian pound 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 Dec ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Chinese yuan renminbi, Turkish lira, euro and Japanese yen.
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 3.2 points during Dec ’16, finishing at a record high value of 15.0. The USD/Domestic Soybeans Importer FX Index has increased 10.1 points throughout the past six months and 24.9 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 Dec ’16 was led by gains against the Egyptian pound, followed by USD appreciation against the Chinese yuan renminbi, Mexican peso, Turkish lira and Japanese yen.