Today is 11/15/2024
| Imported Soybean Crushing Margins - 9/8/2019 | |||||||||||
| Products | Delivery | CBOT | CNF China | Duty-paid RMB/MT | DCE Soybean Meal | DCE Soybean Oil | DCE Gross Margin | Var. | SM | SO Spot | SCM |
| USD/MT | Spot | ||||||||||
| Soybean, US Gulf | Aug | 883 | 392 | 3,941 | 2,908 | 5,924 | -518 | -16 | 2,845 | 5,730 | -605 |
| Sept | 883 | 389 | 3,917 | 2,905 | 6,044 | -474 | -11 | 2,845 | 5,730 | -581 | |
| Oct | 883 | 391 | 3,931 | 2,905 | 6,044 | -488 | -2 | 2,845 | 5,730 | -595 | |
| Soybean, US PNW | Aug | 883 | 380 | 3,823 | 2,908 | 5,924 | -400 | -16 | 2,845 | 5,730 | -487 |
| Soybean, Brasil | Sept | 883 | 406 | 3,303 | 2,905 | 6,044 | 201 | 3 | 2,845 | 5,730 | 91 |
| Oct | 883 | 408 | 3,315 | 2,905 | 6,044 | 189 | 11 | 2,845 | 5,730 | 79 | |
| Nov | 883 | 413 | 3,350 | 2,905 | 6,044 | 154 | 10 | 2,845 | 5,730 | 44 | |
| Feb, 2020 | 907.5 | 391 | 3,188 | 2,769 | 6,080 | 216 | -3 | 2,845 | 5,730 | 206 | |
| Mar, 2020 | 907.5 | 389 | 3,173 | 2,769 | 6,080 | 231 | -4 | 2,845 | 5,730 | 221 | |
| Apr, 2020 | 918.5 | 391 | 3,191 | 2,769 | 6,080 | 213 | -3 | 2,845 | 5,730 | 203 | |
| May, 2020 | 918.5 | 392 | 3,200 | 2,769 | 6,080 | 204 | -3 | 2,845 | 5,730 | 194 | |
| Soybean, Argentina | Sept | 883 | 390 | 3,175 | 2,905 | 6,044 | 208 | 1 | 2,845 | 5,730 | 104 |
| Remarks: 1. SM Spot: soybean meal spot price; SO spot: soybean oil spot price, SCM: spot crushing margin. 2. CBOT Price is the closing price last night, and DCE Price is the intraday price at about 11:12 a.m.. 3. DCE crushing margin and spot crushing margin are both gross margins with labour fee. The net margins can be calculated by deducting 150 RMB/tonne, but there may be some difference in cost due to the factory scale. 4. U.S. soybean is posed with an additional tariff of 25% since July 6th, 2018. |
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