Today is 07/02/2020

Imported Soybean Crushing Margins - 18/9/2019

Imported Soybean Crushing Margins - 18/9/2019
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 893.75 393 4,107 2,857 6,152 -681 -29 2,920 6,130 -636
Oct 893.75 395 4,134 2,857 6,152 -708 -41 2,920 6,130 -663
Nov 907.25 399 4,179 2,857 6,152 -753 -67 2,920 6,130 -708
Soybean, US PNW Oct 893.75 380 3,981 2,857 6,152 -555 -6 2,920 6,130 -510
Nov 893.75 381 3,993 2,857 6,152 -567 2,920 6,130 -522
Soybean, Brasil Sept 893.75 405 3,294 2,857 6,152 193 26 2,920 6,130 239
Oct 893.75 406 3,309 2,857 6,152 178 15 2,920 6,130 224
Nov 893.75 407 3,316 2,857 6,152 171 2,920 6,130 217
Feb, 2020 919.5 395 3,231 2,763 6,130 178 -2 2,920 6,130 302
Mar, 2020 919.5 391 3,198 2,763 6,130 211 2 2,920 6,130 335
Apr, 2020 930.25 393 3,215 2,763 6,130 194 2 2,920 6,130 318
May, 2020 930.25 396 3,239 2,763 6,130 170 -2 2,920 6,130 294
Soybean, Argentina Oct 893.75 396 3,231 2,857 6,152 133 47 2,920 6,130 179
Nov 893.75 397 3,238 2,857 6,152 126 2,920 6,130 172
May, 2020 939.75 383 3,136 2,763 6,130 150 52 2,920 6,130 274
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.