Today is 11/13/2024
| Home > Soybean Crushing Margin Estimates in China- 4/9/2019

Soybean Crushing Margin Estimates in China- 4/9/2019

2019-09-04 www.cofeed.com
Theoretical Crushing Margins for Imported U.S. Soybean (RMB/tonne, Aug shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,030  3,150  3,634  4,041  150 -557 3,855 
Qinhuangdao, Hebei 6,020  3,120  3,609  4,041  150 -582 3,857 
Costal Shandong 6,040  3,090  3,589  4,041  150 -602 3,852 
Jiangsu 6,140  3,040  3,568  4,041  150 -623 3,828 
Guangdong 6,160  3,000  3,540  4,041  150 -651 3,824 
 
Theoretical Crushing Margins for Imported U.S. PNW Soybean (RMB/tonne,Aug. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,030  3,150  3,634  3,966  150 -482 3,760 
Qinhuangdao, Hebei 6,020  3,120  3,609  3,966  150 -507 3,762 
Costal Shandong 6,040  3,090  3,589  3,966  150 -527 3,757 
Jiangsu 6,140  3,040  3,568  3,966  150 -548 3,733 
Guangdong 6,160  3,000  3,540  3,966  150 -576 3,729 
 
Theoretical Crushing Margins for Imported Brazilian Soybean (RMB/tonne,Sep. shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,030  3,150  3,695  3,365  150  180  2,923 
Qinhuangdao, Hebei 6,020  3,120  3,669  3,365  150  154  2,925 
Costal Shandong 6,040  3,090  3,649  3,365  150  134  2,920 
Jiangsu 6,140  3,040  3,630  3,365  150  115  2,895 
Guangdong 6,160  3,000  3,602  3,365  150  87  2,890 
 
Theoretical Crushing Margins for Imported Argentine Soybean (RMB/tonne, Sep shipment)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,030  3,150  3,574  3,263  150  161  2,946 
Qinhuangdao, Hebei 6,020  3,120  3,548  3,263  150  135  2,949 
Costal Shandong 6,040  3,090  3,528  3,263  150  115  2,944 
Jiangsu 6,140  3,040  3,507  3,263  150  94  2,921 
Guangdong 6,160  3,000  3,479  3,263  150  66  2,917 
 
Crushing Margins for Port Distributed Soybean (RMB/tonne)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Dalian, Liaoning 6,030  3,150  3,604  3,560  150  -106  3,284 
Qinhuangdao, Hebei 6,020  3,120  3,579  3,560  150  -132  3,286 
Costal Shandong 6,040  3,090  3,559  3,560  150  -152  3,282 
Jiangsu 6,140  3,040  3,538  3,560  150  -173  3,258 
Guangdong 6,160  3,000  3,510  3,560  150  -200  3,254 
 
Crushing Margins for Domestic Soybean (RMB/tonne)
Region Income Expenditure Margin Soybean Break-even Price
Soybean Oil Soybean Meal Total Soybean Cost Crushing Cost
Heilongjiang 6,180  3,280  3,613  3,500  160  -47  3,339 
Dalian, Liaoning 6,030  3,130  3,469  3,620  160  -311  3,519 
Qinhuangdao, Hebei 6,020  3,080  3,427  3,640  160  -373  3,546 
Boxing, Shandong 6,040  3,090  3,438  3,660  160  -382  3,567 
Remarks:
1. Imported Soybean Cost: intraday soybean cost from the United States calculated  with the CBOT price; Port distributed soybean: subject to prices at Shandong ports; Domestic soybean cost: purchasing price in Heilongjiang+ freight to factory.
2. Imported soybean: Oil extraction rate 18-20% and meal 79%;
   Domestic soybean: Oil extraction rate 16% and meal 80%.
3. Estimated margins and actual profit in mills may have some differences as mills usually use their inventories or have already locked the cost previously, which may be different from intraday soybean cost on the basis of the CBOT price.
4. Soybean Break-even Price is calculated with intraday soybean cost and soybean oil price, and when the crush margins is ZERO, then it is soybean break-even price.

Print Close