Today is 04/16/2024
| Imported Soybean Crushing Margins - 4/8/2019 | |||||||||||
| 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 | 868.5 | 383 | 4,041 | 2,994 | 6,126 | -512 | 18 | 3,053 | 6,010 | -487 |
| Oct | 868.5 | 384 | 4,061 | 2,994 | 6,126 | -532 | 16 | 3,053 | 6,010 | -507 | |
| Nov | 868.5 | 385 | 4,080 | 2,994 | 6,126 | -551 | 14 | 3,053 | 6,010 | -526 | |
| Soybean, US PNW | Oct | 868.5 | 375 | 3,966 | 2,994 | 6,126 | -437 | 16 | 3,053 | 6,010 | -412 |
| Soybean, Brasil | Sept | 868.5 | 410 | 3,365 | 2,994 | 6,126 | 225 | 16 | 3,053 | 6,010 | 249 |
| Oct | 868.5 | 410 | 3,373 | 2,994 | 6,126 | 217 | 14 | 3,053 | 6,010 | 241 | |
| Feb, 2020 | 895 | 384 | 3,181 | 2,801 | 6,052 | 242 | -10 | 3,053 | 6,010 | 433 | |
| Mar, 2020 | 895 | 380 | 3,149 | 2,801 | 6,052 | 274 | -8 | 3,053 | 6,010 | 465 | |
| Apr, 2020 | 905.75 | 380 | 3,145 | 2,801 | 6,052 | 278 | 6 | 3,053 | 6,010 | 469 | |
| May, 2020 | 905.75 | 382 | 3,163 | 2,801 | 6,052 | 260 | 3 | 3,053 | 6,010 | 451 | |
| Soybean, Argentina | Oct | 868.5 | 396 | 3,263 | 2,994 | 6,126 | 205 | 15 | 3,053 | 6,010 | 231 |
| May, 2020 | 915.5 | 379 | 3,141 | 2,801 | 6,052 | 161 | -4 | 3,053 | 6,010 | 353 | |
| 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.；U.S. soybean is posed with an additional tariff of 5% since Sept 1th, 2018. |
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