Today is 11/15/2024
| Imported Soybean Crushing Margins - 12/8/2019 | |||||||||||
| 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 | 891.75 | 395 | 3,981 | 2,888 | 6,096 | -541 | -23 | 2,870 | 5,910 | -591 |
| Sept | 891.75 | 391 | 3,939 | 2,874 | 6,220 | -487 | -13 | 2,870 | 5,910 | -549 | |
| Oct | 891.75 | 391 | 3,951 | 2,874 | 6,220 | -499 | -11 | 2,870 | 5,910 | -561 | |
| Soybean, US PNW | Aug | 891.75 | 386 | 3,888 | 2,888 | 6,096 | -448 | -48 | 2,870 | 5,910 | -498 |
| Soybean, Brasil | Sept | 891.75 | 412 | 3,349 | 2,874 | 6,220 | 165 | -36 | 2,870 | 5,910 | 100 |
| Oct | 891.75 | 414 | 3,375 | 2,874 | 6,220 | 139 | -50 | 2,870 | 5,910 | 74 | |
| Feb, 2020 | 916 | 395 | 3,229 | 2,747 | 6,246 | 190 | -26 | 2,870 | 5,910 | 220 | |
| Mar, 2020 | 916 | 392 | 3,204 | 2,747 | 6,246 | 215 | -16 | 2,870 | 5,910 | 245 | |
| Apr, 2020 | 927 | 394 | 3,223 | 2,747 | 6,246 | 196 | -17 | 2,870 | 5,910 | 226 | |
| May, 2020 | 927 | 395 | 3,232 | 2,747 | 6,246 | 187 | -17 | 2,870 | 5,910 | 217 | |
| Soybean, Argentina | Sept | 891.75 | 396 | 3,227 | 2,874 | 6,220 | 163 | -45 | 2,870 | 5,910 | 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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