Today is 07/08/2020

Imported Soybean Crushing Margins - 24/9/2019

Imported Soybean Crushing Margins - 24/9/2019
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 892.5 386 4,050 2,848 6,014 -657 -67 2,955 6,010 -574
Oct 892.5 386 4,059 2,848 6,014 -666 -70 2,955 6,010 -583
Nov 906 394 4,139 2,848 6,014 -746 -70 2,955 6,010 -663
Soybean, US PNW Oct 892.5 380 3,987 2,848 6,014 -594 -55 2,955 6,010 -511
Nov 892.5 380 4,001 2,848 6,014 -608 -56 2,955 6,010 -525
Soybean, Brasil Oct 892.5 402 3,284 2,848 6,014 169 -19 2,955 6,010 252
Nov 892.5 402 3,288 2,848 6,014 165 -2 2,955 6,010 248
Feb, 2020 917 390 3,201 2,761 6,034 187 -22 2,955 6,010 335
Mar, 2020 917 387 3,183 2,761 6,034 205 -25 2,955 6,010 353
Apr, 2020 926.5 388 3,191 2,761 6,034 197 -17 2,955 6,010 345
May, 2020 926.5 389 3,199 2,761 6,034 189 -10 2,955 6,010 337
Jun, 2020 935 393 3,230 2,799 6,090 199 -8 2,955 6,010 306
Soybean, Argentina Oct 892.5 391 3,201 2,848 6,014 131 -33 2,955 6,010 215
Nov 892.5 392 3,211 2,848 6,014 121 -33 2,955 6,010 205
May, 2020 935 381 3,133 2,761 6,034 134 -22 2,955 6,010 283
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.