Today is 11/14/2024
| Imported Soybean Crushing Margins - 9/9/2019 | |||||||||||
| 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 | 857.75 | 375 | 3,941 | 2,872 | 6,060 | -521 | 4 | 2,968 | 6,040 | -449 |
| Oct | 857.75 | 376 | 3,961 | 2,872 | 6,060 | -541 | 5 | 2,968 | 6,040 | -469 | |
| Nov | 857.75 | 378 | 3,986 | 2,872 | 6,060 | -566 | 6 | 2,968 | 6,040 | -494 | |
| Soybean, US PNW | Oct | 857.75 | 371 | 3,905 | 2,872 | 6,060 | -485 | 5 | 2,968 | 6,040 | -413 |
| Soybean, Brasil | Sept | 857.75 | 404 | 3,296 | 2,872 | 6,060 | 185 | 3 | 2,968 | 6,040 | 257 |
| Oct | 857.75 | 404 | 3,304 | 2,872 | 6,060 | 177 | 4 | 2,968 | 6,040 | 249 | |
| Feb, 2020 | 886 | 380 | 3,128 | 2,765 | 6,002 | 257 | 27 | 2,968 | 6,040 | 425 | |
| Mar, 2020 | 886 | 377 | 3,105 | 2,765 | 6,002 | 280 | 26 | 2,968 | 6,040 | 448 | |
| Apr, 2020 | 897.5 | 379 | 3,118 | 2,765 | 6,002 | 267 | 25 | 2,968 | 6,040 | 435 | |
| May, 2020 | 897.5 | 380 | 3,133 | 2,765 | 6,002 | 252 | 25 | 2,968 | 6,040 | 420 | |
| Soybean, Argentina | Oct | 857.75 | 391 | 3,200 | 2,872 | 6,060 | 160 | 1 | 2,968 | 6,040 | 232 |
| May, 2020 | 907.75 | 376 | 3,100 | 2,765 | 6,002 | 165 | 15 | 2,968 | 6,040 | 332 | |
| 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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