Imported Soybean Crushing Margins - 22/10/2019 | |||||||||||
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 | Oct | 933.25 | 411 | 4,282 | 3,046 | 6,026 | -731 | -6 | 3,145 | 6,070 | -644 |
Nov | 933.25 | 411 | 4,287 | 3,046 | 6,026 | -736 | 5 | 3,145 | 6,070 | -649 | |
Dec | 946.75 | 417 | 4,354 | 3,046 | 6,026 | -803 | 3,145 | 6,070 | -716 | ||
Soybean, US PNW | Nov | 933.25 | 405 | 4,225 | 3,046 | 6,026 | -674 | 10 | 3,145 | 6,070 | -587 |
Dec | 946.75 | 410 | 4,289 | 3,046 | 6,026 | -738 | 3,145 | 6,070 | -651 | ||
Soybean, Brasil | Oct | 933.25 | 416 | 3,374 | 3,046 | 6,026 | 238 | -12 | 3,145 | 6,070 | 325 |
Nov | 933.25 | 416 | 3,378 | 3,046 | 6,026 | 234 | -12 | 3,145 | 6,070 | 321 | |
Dec | 946.75 | 421 | 3,427 | 3,046 | 6,026 | 185 | 52 | 3,145 | 6,070 | 272 | |
Feb, 2020 | 959 | 405 | 3,305 | 2,923 | 6,028 | 210 | -22 | 3,145 | 6,070 | 394 | |
Mar, 2020 | 959 | 401 | 3,273 | 2,923 | 6,028 | 242 | -17 | 3,145 | 6,070 | 426 | |
Apr, 2020 | 967.5 | 400 | 3,269 | 2,923 | 6,028 | 246 | -15 | 3,145 | 6,070 | 430 | |
May, 2020 | 967.5 | 402 | 3,277 | 2,923 | 6,028 | 238 | -11 | 3,145 | 6,070 | 422 | |
Jun, 2020 | 975.5 | 404 | 3,301 | 2,974 | 6,064 | 261 | -24 | 3,145 | 6,070 | 398 | |
Soybean, Argentina | Oct | 933.25 | 403 | 3,271 | 3,046 | 6,026 | 220 | 5 | 3,145 | 6,070 | 306 |
Nov | 933.25 | 403 | 3,280 | 3,046 | 6,026 | 211 | 6 | 3,145 | 6,070 | 297 | |
May, 2020 | 975.5 | 390 | 3,187 | 2,923 | 6,028 | 207 | -10 | 3,145 | 6,070 | 390 | |
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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