Today is 07/08/2020

Imported Soybean Crushing Margins - 17/9/2019

Imported Soybean Crushing Margins - 17/9/2019
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 900 390 4,079 2,849 6,190 -652 12 2,910 6,160 -610
Oct 900 391 4,094 2,849 6,190 -667 13 2,910 6,160 -625
Nov 900 393 4,113 2,849 6,190 -686 13 2,910 6,160 -644
Soybean, US PNW Oct 900 380 3,976 2,849 6,190 -549 14 2,910 6,160 -507
Soybean, Brasil Sept 900 408 3,322 2,849 6,190 167 15 2,910 6,160 209
Oct 900 408 3,326 2,849 6,190 163 16 2,910 6,160 205
Feb, 2020 925.75 395 3,239 2,767 6,164 180 16 2,910 6,160 292
Mar, 2020 925.75 392 3,210 2,767 6,164 209 15 2,910 6,160 321
Apr, 2020 936.5 394 3,227 2,767 6,164 192 15 2,910 6,160 304
May, 2020 936.5 397 3,247 2,767 6,164 172 16 2,910 6,160 284
Soybean, Argentina Oct 900 403 3,279 2,849 6,190 86 14 2,910 6,160 129
May, 2020 945.5 390 3,197 2,767 6,164 98 10 2,910 6,160 211
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.