Today is 05/27/2020

Imported Soybean Crushing Margins - 23/8/2019

Imported Soybean Crushing Margins - 23/8/2019
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 Sept 868.75 384 3,874 2,936 6,176 -381 19 2,915 6,090 -414
Oct 868.75 387 3,907 2,936 6,176 -414 30 2,915 6,090 -447
Nov 868.75 388 3,919 2,936 6,176 -426 30 2,915 6,090 -459
Soybean, US PNW Oct 868.75 377 3,813 2,936 6,176 -320 29 2,915 6,090 -353
Soybean, Brasil Sept 868.75 410 3,339 2,936 6,176 216 7 2,915 6,090 182
Oct 868.75 411 3,350 2,936 6,176 205 -2 2,915 6,090 171
Feb, 2020 895.5 385 3,154 2,745 6,164 247 30 2,915 6,090 367
Mar, 2020 895.5 383 3,140 2,745 6,164 261 38 2,915 6,090 381
Apr, 2020 907 384 3,147 2,745 6,164 254 41 2,915 6,090 374
May, 2020 907 385 3,156 2,745 6,164 245 41 2,915 6,090 365
Soybean, Argentina Oct 868.75 399 3,257 2,936 6,176 174 13 2,915 6,090 142
May, 2020 917.25 378 3,098 2,745 6,164 180 29 2,915 6,090 301
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.