Today is 04/27/2024
| Imported Soybean Crushing Margins - 12/9/2019 | |||||||||||
| 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 | 866.5 | 378 | 3,958 | 2,846 | 6,080 | -554 | 5 | 2,923 | 6,060 | -497 |
| Oct | 866.5 | 379 | 3,976 | 2,846 | 6,080 | -572 | 25 | 2,923 | 6,060 | -515 | |
| Nov | 866.5 | 380 | 3,996 | 2,846 | 6,080 | -592 | 18 | 2,923 | 6,060 | -535 | |
| Soybean, US PNW | Oct | 866.5 | 369 | 3,871 | 2,846 | 6,080 | -467 | 17 | 2,923 | 6,060 | -410 |
| Soybean, Brasil | Sept | 866.5 | 407 | 3,316 | 2,846 | 6,080 | 148 | 4 | 2,923 | 6,060 | 205 |
| Oct | 866.5 | 408 | 3,331 | 2,846 | 6,080 | 133 | -4 | 2,923 | 6,060 | 190 | |
| Feb, 2020 | 894 | 386 | 3,171 | 2,744 | 6,024 | 202 | -6 | 2,923 | 6,060 | 350 | |
| Mar, 2020 | 894 | 382 | 3,136 | 2,744 | 6,024 | 237 | 5 | 2,923 | 6,060 | 385 | |
| Apr, 2020 | 906.25 | 384 | 3,151 | 2,744 | 6,024 | 222 | 4 | 2,923 | 6,060 | 370 | |
| May, 2020 | 906.25 | 385 | 3,163 | 2,744 | 6,024 | 210 | 4 | 2,923 | 6,060 | 358 | |
| Soybean, Argentina | Oct | 866.5 | 394 | 3,217 | 2,846 | 6,080 | 126 | 11 | 2,923 | 6,060 | 183 |
| May, 2020 | 916.25 | 379 | 3,115 | 2,744 | 6,024 | 137 | 12 | 2,923 | 6,060 | 285 | |
| 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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