Today is 11/15/2024
| Imported Soybean Crushing Margins - 11/9/2019 | |||||||||||
| 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 | 872 | 379 | 3,975 | 2,858 | 6,094 | -559 | -58 | 2,930 | 6,040 | -513 |
| Oct | 872 | 382 | 4,013 | 2,858 | 6,094 | -597 | -60 | 2,930 | 6,040 | -551 | |
| Nov | 872 | 382 | 4,026 | 2,858 | 6,094 | -610 | -61 | 2,930 | 6,040 | -564 | |
| Soybean, US PNW | Oct | 872 | 371 | 3,900 | 2,858 | 6,094 | -484 | -22 | 2,930 | 6,040 | -438 |
| Soybean, Brasil | Sept | 872 | 408 | 3,333 | 2,858 | 6,094 | 144 | -42 | 2,930 | 6,040 | 190 |
| Oct | 872 | 408 | 3,340 | 2,858 | 6,094 | 137 | -43 | 2,930 | 6,040 | 183 | |
| Feb, 2020 | 899 | 386 | 3,174 | 2,753 | 6,036 | 208 | -38 | 2,930 | 6,040 | 349 | |
| Mar, 2020 | 899 | 383 | 3,150 | 2,753 | 6,036 | 232 | -37 | 2,930 | 6,040 | 373 | |
| Apr, 2020 | 910.75 | 385 | 3,164 | 2,753 | 6,036 | 218 | -36 | 2,930 | 6,040 | 359 | |
| May, 2020 | 910.75 | 386 | 3,176 | 2,753 | 6,036 | 206 | -36 | 2,930 | 6,040 | 347 | |
| Soybean, Argentina | Oct | 872 | 396 | 3,240 | 2,858 | 6,094 | 115 | -61 | 2,930 | 6,040 | 162 |
| May, 2020 | 920.75 | 381 | 3,136 | 2,753 | 6,036 | 125 | -35 | 2,930 | 6,040 | 266 | |
| 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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